18 August, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached the predicted target of its descending wave. However, this structure may yet continue. We think, today, the price may extend this decline towards 1.1032 and then return to 1.1110. After that, the pair may start a new descending movement to reach 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound hasn’t been able to continue its growth; the pair has formed a continuation pattern at 1.5596 and today is falling. The target of this descending structure is at 1.5500. After that, the market may test 1.5596 from below and then continue falling inside the downtrend towards 1.5400.
USD CHF, “US Dollar vs Swiss Franc”
Franc hasn’t been able to stay above 0.9800. We think, today, the price may fall towards 0.9760. After that, the market may resume moving upwards to reach the next target at 0.9960.
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a consolidation channel. If the market breaks this consolidation channel upwards – it may grow to reach the target at 125.46; if downwards – the current correction may continue towards 123.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We can see triangle pattern, which looks like bullish pennant though. However, the descending structure may yet continue. The main scenario implies that the price may fall and reach 0.7200. An alternative scenario suggests that the market may break the channel upwards and reach 0.7452.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still “monitoring” the oil market. We think, today, the price may grow to reach 66.10 and even extend this structure towards 67.00. After that, the pair is expected to start forming a descending wave with the target at 52.50.
XAU USD, “Gold vs US Dollar”
Gold is consolidating below the broken ascending channel. The target of the correction is at 1106. After reaching it, the price may continue growing towards 1131 and then fall again to return to 1106.
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...