6 August, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has formed another ascending structure and almost defined the borders of its new consolidation channel. We think, today the price may fall towards the lower border and then continue moving downwards. An alternative scenario implies that the regulator may try to prevent the pair from a further decline, so that it could continue the correction towards 1.1000 to test it from below. After that, the pair may continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is trying to stay inside the consolidation channel, which turns out to be triangle pattern again to continue the decline. We think, today, the price may reach 1.5460 and then return to the center of the channel.
USD CHF, “US Dollar vs Swiss Franc”
After completing the ascending impulse, Franc is forming another consolidation channel. We think, today, the price may continue growing to reach 0.9944. An alternative scenario implies that the market may test 0.9734 from above and then continue growing.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the local target. We think, today, the price may form a consolidation channel, break it downwards, and then form the fourth wave as a correction to reach 122.94.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the fourth correctional structure. We think, today the price may complete it and start the fifth structure, an ascending one, to reach the target at 0.7450. After that, the pair may start falling towards the center of the consolidation channel towards 0.7345.
USD RUB, “US Dollar vs Russian Ruble”
Being influenced by the oil prices, Ruble continues reaching new highs. We think, today the price may complete this extension and fall towards 61.00. The market is expected to form a reversal pattern and start a new descending wave with the target at 52.50.
XAU USD, “Gold vs US Dollar”
Gold is moving in the center of its consolidation channel without any particular direction. We think, today, the price may continue consolidating.
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...