17 March, 2014
EUR USD, “Euro vs US Dollar”
At daily chart, Euro is still moving upwards with target at 1.4100; right now market is forming third ascending wave. We think, during this week, price may reach level of 1.3990 and then start consolidating. Alternative scenario implies that pair may form correction towards level of 1.3800. Later, in our opinion, instrument may continue growing up towards above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
At daily chart, Pound continues moving inside ascending structure towards level of 1.7730. We think, during this week, price may complete this correctional flag pattern and then leave it upwards to reach target at level of 1.700. Later, in our opinion, instrument may form new correction to return to level of 1.6900 and then continue growing up towards next target at 1.7470.
USD CHF, “US Dollar vs Swiss Franc”
At daily chart, Francis still forming descending structure with target at 0.8300. Right now, market is moving below level of 0.8730 and forming continuation pattern.
USD JPY, “US Dollar vs Japanese Yen”
At daily chart, Yen couldn’t form ascending structure towards level of 104.00. Market continues falling down and may complete current correction by reaching level of 100.00. Later, in our opinion, instrument may form reversal pattern to start new ascending movement to reach level of 106.00.
AUD USD, “Australian Dollar vs US Dollar”
At daily chart, Australian Dollar completed right part of head & shoulders reversal pattern. We think, during this week, price may form another descending wave towards level of 0.8400; right now, market is forming the third structure inside this wave with target at 0.8900. After reaching it, instrument may consolidate for a while and then continue moving downwards.
USD RUB, “US Dollar vs Russian Ruble”
At daily chart, Ruble is still moving inside ascending wave. Main scenario implies that price may reach its next target at 37.50. Right now, market is forming another consolidation channel with top at level of 37.21. Later, in our opinion, instrument may fall down towards level of 36.54 and then start new ascending movement.
XAU USD, “Gold vs US Dollar”
At daily chart, Gold is still forming ascending structure towards level of 1490. By now, market has completed continuation pattern near level of 1336 and broken its consolidation channel upwards, which means that instrument may extend this wave towards above-mentioned target level.
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...