31 January, 2014
Euro is still moving inside descending correction. We think, today price may form reversal structure to break this correctional channel and then continue moving upwards to reach level of 1.3800.
Pound formed another descending structure. We think, today price may reach level of 1.6431 and then return to level of 1.6575. Later, in our opinion, market may continue moving upwards to reach level of 1.6680.
Franc formed another ascending structure, the same at the previous one; as a result, we have three-wave correction. We think, today price may fall down towards level of 0.8963 and try to form the fifth wave with target at 0.9070. Later, in our opinion, market may continue moving inside descending trend to reach main target at 0.8300.
Yen is still consolidating. We think, today price may expand this consolidation channel, first – downwards, to reach target level of 101.70, and then upwards, towards level of 103.80. Later, in our opinion, market may continue growing up towards level of 104.00 and then start new descending movement to reach level of 100.00.
Australian Dollar tried to start new ascending movement, but faced resistance from level of 0.8820. We think, today price may continue moving inside descending trend. Main target at level of 0.8400.
Gold completed the third descending structure of its correction. We think, today price may return to level of 1254 (at least) and then complete this correction by forming the fifth structure towards level of 1230. Later, in our opinion, market may start new ascending movement to reach level of 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...