21 May, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving inside a narrow consolidation channel, which may be considered as a continuation pattern towards the previous descending movement. We think, today, the price may break this channel downwards, =return to the center, and then continue falling inside the downtrend. The target is at level of 1.0750.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed the first descending impulse and right now is being corrected. the target of this correction may be at level of 1.5620. After reaching it, the price may continue forming its descending wave. The target of this structure is at level of 1.5000.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating near the top of its ascending impulse. After the price breaks the top, it may continue growing towards level of 0.9541.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its ascending wave and right now is forming a new consolidation channel, which may be considered as a reversal pattern. If the channel is broken downwards, the pair may fall towards level of 117.44; if upwards (an alternative scenario) – continue growing to reach level of 122.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues falling towards level of 0.7815. This movement may be considered as a correction, after which the price may return to level of 0.7990, thus forming a ne3 consolidation channel. If the channel is broken upwards, the pair may continue forming an ascending wave; if downwards – fall and reach new lows at 0.7510.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating near level of 48.96. If this consolidation channel is broken downwards, the pair may fall to reach level of 46.00; if upwards - start forming an ascending correction to return to level of 58.50.
XAU USD, “Gold vs US Dollar”
After making a fast descending movement, Gold has started consolidating. We think, today, the price may break this channel downwards and continue falling inside the downtrend. The next target is at level of 1179; the main one is still at 1113.
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...