6 March, 2014
EUR USD, “Euro vs US Dollar”
Euro reached its target and then formed the first impulse of reversal structure to break its correctional channel. We think, today price may continue moving upwards to break the top of this first impulse and then reach level of 1.3850.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming ascending structure towards level of 1.6800. Right now, market is forming consolidation channel. We think, today price may leave it upwards and continue growing up towards above mentioned target.
USD CHF, “US Dollar vs Swiss Franc”
Franc reached target of its correction. We think, today price may form consolidation channel, break it downwards, and then continue falling down towards target at 0.8730.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues forming ascending structure; market formed continuation pattern near level of 102.27. We think, today price may continue growing up to reach level of 103.30, return to level of 102.80, and then start moving towards level of 104.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar was able to form ascending structure, which may be considered as the fourth wave of correction. We think, today price may form the fifth wave, a descending one, to reach level of 0.8860. Later, in our opinion, instrument may return to level of 0.8970 and then continue moving downwards.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming consolidation channel inside the third descending wave. We think, today price may complete this consolidation in the form of divergent triangle pattern, leave it downwards to reach level of 35.60, and then start new ascending movement towards level of 36.06 or even 36.33. Later, in our opinion, instrument may form another descending structure to reach level of 35.27 and then return to level of 36.06.
XAU USD, “Gold vs US Dollar”
Gold is still forming consolidation channel near level of 1330. We think, today price may stop consolidating and continue falling down. Target is at level of 1319.15. Later, in our opinion, instrument may return to level of 1330 and then continue falling down 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...