5 November, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its consolidation channel downwards and reached the target of the expansion. This structure has taken the form of the downside continuation pattern; the target of the structure is at 1.0505. The main scenario suggests that the market may continue falling inside the downtrend towards the above-mentioned target. An alternative scenario implies that the price may test 1.0995 from below and then continue moving downwards. The next target is at 1.0736.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is moving downwards; the pair has formed another descending structure. We think, today, the price may reach 1.5231 and then return to 1.5334. After that, the instrument may continue falling to reach 1.5165.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming its ascending structure. We think, today, the price may expand its trading range towards 0.9988 and then test 0.9917 from above. After that, the instrument may continue moving upwards to reach the next target at 1.0106.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, Yen is moving upwards. We think, today, the price may break the consolidation channel upwards to reach 121.81. After that, the instrument may continue falling towards 120.90.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken its ascending structure and right now is forming another descending wave. We think, today, the price may reach 0.7017 and then return to 0.7178. After that, the instrument may start another descending wave. The next target is at 0.7053.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is testing the broken consolidation channel from below. The main scenario suggests that the market may continue falling to reach 61.93. After that, the instrument may test 63.00 from below and then start another decline towards 59.55.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is still falling; the instrument hasn’t completed the current wave yet. The target is at 1090. After that, the market may be corrected to return to 1135 and then start another decline towards 1083.
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...