29 December, 2015
EUR USD, “Euro vs US Dollar”
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. Later, in our opinion, the market may expand the channel downwards and form another descending wave with the target at 1.0752.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating; the pair has formed the ascending impulse and right now is correcting it, thus defining the border of the consolidation channel. The target is at 1.4864. If the market breaks the channel upwards, it may be corrected towards 1.5000. The main scenario implies that the price may form another descending wave with the target at 1.4746 (at least).
USD CHF, “US Dollar vs Swiss Franc”
Franc is growing towards 0.9920. Later, in our opinion, the market may return to 0.9880, thus defining the borders of another consolidation channel. If the pair breaks the channel upwards, it may continue growing inside the uptrend according to the main scenario. The first target is at 1.0000. If the channel is broken downwards, the instrument may only reach 0.9838 and then resume its growth.
USD JPY, “US Dollar vs Japanese Yen”
Yen has corrected its first ascending impulse. We think, today, the price may grow to break the top of this impulse. The target is at 121 or even at 122 (as a correction). Later, in our opinion, the market may start another decline to break 120.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has almost completed its first descending impulse and right now is correcting it. We think, today, the price may form the descending structure with the target at 0.7174. Later, in our opinion, the market may return to 0.7227.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is growing according to an alternative scenario. We think, the price may reach 72.60 and then fall towards 68.00. Later, in our opinion, the market may start another growth with the target at 73.00.
XAU USD, “Gold vs US Dollar”
Gold has completed the correction with the target at 1067.20 and right now is moving to return to 1074.50, thus defining the borders of another consolidation channel. If later the market breaks this consolidation channel upwards – it may grow towards the upside border of rectangle pattern; if downwards – fall towards 1047.20.
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...
It is likely that the current correction may take more time than expected. Besides the scenario with thehorizontal triangle in the wave 4, Eurodollar may form the double three (see the chart). In this case, in the nearest future...