12 October, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside flag correctional pattern; the market has already completed this correction. We think, today, the price may continue falling towards 1.1000. This week, the pair is expected to form another descending wave with the target at 1.1225 and then the correction to reach 1.1300.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has completed the correction towards the previous descending structure. This week, the pair is expected to continue falling inside the downtrend to break 1.5165; the third descending wave is expected to be a “wide” one. The target of another structure is at 1.4944. After that, the market may test 1.5165 from below.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside a large consolidation channel; the market has formed flag pattern near the channel’s lower border. This week, the pair is expected break the pattern upwards and grow to reach 0.9870. After that, the price may form a continuation pattern and move towards 1.0110.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving inside a large consolidation channel, which is taking the form of triangle pattern and may be considered as the continuation pattern of the third descending wave. The main scenario implies that the price may fall towards 115.00. An alternative scenario suggests that the market may try to break the upper border of the pattern and leave the pattern upwards. After that, the market may continue falling inside the downtrend. The first target is at 118.22.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the third ascending structure; the market has formed a continuation pattern near the point, where the descending channel was broken. The local target is at 0.7375. After that, the market may fall to return to 0.7154 (at least) or even reach 0.7030. This decline may be considered as the fourth wave of the correction. Later, in our opinion, the pair may form the fifth wave, complete flag correctional pattern and then continue falling inside the downtrend to reach 0.6602.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming the third descending wave with the target at 60.00. After reaching this level, the price may form the fourth wave to return to 64.50 to test it from below. After that, the instrument may start forming the fifth descending structure to reach the target at 57.30. This decline may be considered as the first wave inside the downtrend.
XAU USD, “Gold vs US Dollar”
Gold has broken the upper border of triangle consolidation pattern. We think, today, the price may continue growing to reach 1178, fall to test 1161 from above, and then move upwards again to reach 1220. This ascending structure may be considered as the third wave of the correction. After that, the market may start a new decline inside the fourth wave to test 1160 from above.
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...