7 October, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside flag correctional pattern; the pair is trying to continue growing towards 1.1322. We think, today, the price may fall to reach 1.1142 as the fourth wave of this correction and then complete this correction by reaching 1.1322. After that, the market may continue falling inside the downtrend. The main target is at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken 1.5231 upwards and may extend this correction to reach 1.5342 (an alternative scenario). In this case, the price may test the center of the descending wave from below. Later, in our opinion, the instrument may continue falling to break 1.5162, form a continuation pattern, and then move downwards to reach 1.5026.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is falling; the pair is trying to break 0.9669 downwards and form a continuation pattern. Thus, the pair may choose an alternative scenario and extend the correction towards 0.9500. After that, the market may continue moving according to the main forecast and grow towards 0.9870 or even 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Yen hasn’t been able to continue its ascending structure and right now is trying to rebound from triangle’supper border. The market is back to the center of its consolidation channel. If the pair forms another ascending structure to break the pattern’s upper border, it may move to reach 121.40; if the pair breaks the pattern’s lower border, it may continue moving according to the main scenario inside the downtrend towards 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still growing; the pair has reached the target of this wave. We think, today, the price may form another descending wave. An alternative scenario suggests that the market may extend this structure towards 0.7300. After that, the market may return to 0.7064.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming the third descending wave. We think, today, the price may reach 62.00 and then rebound towards 64.50 to test it from below. After that, the instrument may resume falling to reach the local target at 60.00. Later, in our opinion, the market may form the correction (the fourth wave of the downtrend) to test 64.50 from below.
XAU USD, “Gold vs US Dollar”
Gold continues moving upwards. We think, today, the price may reach 1160 and then form another consolidation channel. If the market breaks this channel upwards, it may continue growing to 1220; if downwards – return to 1122.
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...