27 January, 2014
Euro continues forming ascending structure inside the fifth wave with target at 1.4100. We think, today price may consolidate for a while at current levels and form continuation pattern to reach level of 1.3800. Later, in our opinion, pair may consolidate again for some time and continue growing upwards.
Pound is still moving inside another ascending wave with target at 1.6670; market returned to level of 1.6475 to test it from above. We think, today price may continue moving upwards to reach above-mentioned target.
Franc is still falling down. We should note that this pair continues moving inside descending trend towards level of 0.8300. This descending movement is expected to be quite fast and without any serious corrections. We shouldn’t expect the market to form proper five-wave structure during this descending movement until price reaches its main target.
Yen reached target of its descending structure; right now market is forming continuation pattern. If price is able to break current minimum, pair may extend this structure up to level of 100.00. Alternative scenario implies that pair may form new correction and return to level of 104.00.
Australian Dollar is still falling down towards target at 0.8400. However, we shouldn’t expect the market to form proper five-wave structure during this descending movement until price reaches its main target.
Gold reached target of its first ascending wave. We think, today price may form correctional structure to fall down towards level of 1230. This movement is considered as the right shoulder of head & shoulders reversal pattern and may reach target at 1360.
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...