20 January, 2014
Euro continues moving downwards and expanding its consolidation channel; market is forming divergent triangle pattern. We think, today price may form reversal structure to continue growing up. The first target is at level of 1.3700. Later, in our opinion, pair may consolidate and then move upwards again to reach target at 1.3800.
Pound is still moving inside the fourth wave of bullish wedge pattern. We think, today price may form consolidation channel at current levels and leave this channel upwards to reach level of 1.6500. Later, in our opinion, pair may form the fifth descending wave towards level of 1.6255 and then start reversal structure to continue ascending trend.
Franc is moving upwards. We think, today pair may form reversal structure to continue moving inside descending trend towards level of 0.9000. Later, in our opinion, pair may return to level of 0.9075 and then continue falling down. The next target is at 0.8900.
Yen is still falling down; market is forming the fifth wave of descending structure. We think, today price may continue moving downwards to reach level of 102.75. Later, in our opinion, price may return to level of 104.00.
Australian Dollar continues moving inside descending structure with target at 0.8750. After reaching it, pair may consolidate, break this level, and then complete this descending movement by reaching target at 0.8400. Later, in our opinion, pair may return to level of 0.9075.
Gold is still moving inside the fifth ascending wave towards level of 1277. We think, today price may continue consolidating and forming continuation pattern near level of 1248.88. Later, in our opinion, instrument may start new descending movement towards target at 1230.
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...