27 February, 2014
EUR USD, “Euro vs US Dollar”
Euro couldn’t finish its ascending structure; after slight consolidation, market started descending correction towards level of 1.3620. We think, today price may consolidate for a while and then continue moving downwards and form the third wave of this correction with target at level of 1.3630. Later, in our opinion, instrument may continue growing up.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming consolidation channel near level of 1.6700 and right now is moving downwards to reach level of 1.6580; this movement may be considered as correction. Later, in our opinion, instrument may continue growing up towards level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc broke its consolidation channel upwards and may continue this correction. We think, today price may reach level of 0.8980 and then continue falling down towards level of 0.8730.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming the third ascending wave of correctional flag pattern (a bearish one, in this case) with target at 103.40. We think, today price may complete this wave and then start the fourth one with target at 102.10. Later, in our opinion, instrument may form the fifth wave towards level of 104.00 and then fall down to reach level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar completed its three-wave correction; market has broken the minimum of the first descending wave and may continue falling down towards level of 0.8820. Later, in our opinion, instrument may return to level of 0.8930 and then continue moving inside descending trend.
XAU USD, “Gold vs US Dollar”
Gold broke the channel of the third ascending wave and right now is forming descending structure. We think, today price may form the first wave of correction with target at 1312 and then return to level of 1329. Later, in our opinion, instrument may continue this correction towards level of 1285.
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...