14 August, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has formed two descending impulses and the correction, and right now is forming a consolidation channel on the top of this correction. We think, today, the price may continue falling towards 1.0922. An alternative scenario implies that the market may reach a new top at 1.1240 and then continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed only two descending impulses. We think, today, the price may form the third one to reach 1.5532, thus forming a new consolidation channel. If the market breaks this channel downwards, it may continue falling inside the downtrend towards 1.5240; if upwards (an alternative scenario) – grow to reach 1.5688.
USD CHF, “US Dollar vs Swiss Franc”
Franc has been able to form only two ascending impulses and right now is consolidating. If the market breaks this channel upwards, it may continue growing inside the uptrend towards 1.0000; if downwards – the correction may continue to reach 0.9620.
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed two ascending impulses and right now is also consolidating. If the market breaks this consolidation channel downwards (an alternative scenario), it may continue the current correction towards 123.00; if upwards (the main scenario) – grow to reach the target at 125.45.
AUD USD, “Australian Dollar vs US Dollar”
After forming an ascending impulse, Australian Dollar is consolidating. If the market breaks this channel upwards, it may reach 0.7450; if downwards – fall towards 0.7200.
XAU USD, “Gold vs US Dollar”
Gold has left its ascending channel. The main scenario implies that the correction may continue towards 1106. After reaching it, the price may grow towards 1131 and then fall again to reach 1105. This trading range may be considered as a consolidation channel. If the market breaks this channel downwards, it may continue falling inside the downtrend towards 830 if upwards – the correction may continue up to 1161 and then towards 1250.
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...