16 January, 2014
Euro continues moving downwards; this movement may be considered as correction. We think, today price may grow up to break level of 1.3686, consolidate for a while, and then continue moving upwards to reach target at 1.3800.
Pound completed another descending structure and reached level of 1.6335. We think, today price may return to level of 1.6440 and then continue falling down towards level of 1.6250.
Franc completed its correction and is about to start new descending wave with target at 0.890. Later, in our opinion, price may continue falling down towards main target at level of 0.8300 without any serious corrections.
Yen reached target of the fourth correctional structure. We think, today price may form another descending structure to reach level of 102.74.
Australian Dollar formed consolidation channel and then continued forming descending structure. We think, today price may reach level of 0.8700, consolidate for a while, and then continue moving downwards to reach target at 0.8400.
Gold completed correctional structure. We think, today market may start forming ascending structure to break level of 1248.88. Later, in our opinion, instrument may continue its ascending movement towards target at 1277.
RoboForex Analytical Department
Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...
Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...
The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...
Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...
Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...
After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...
Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...
Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...