Analysis for October 17th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still moving inside the third ascending wave. We think, today the price may reach the target at level of 1.2900 and then start a new correction towards 1.2760, at least. Later, in our opinion, the market may form another ascending structure, the fifth one, with the target at level of 1.3000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming the third ascending wave. We think, today the price may reach level of 1.6138 and then form a correction to return to level of 1.6040. Later, in our opinion, the market may form another ascending structure, the fifth one, with the target at level of 1.6200.
USD CHF, “US Dollar vs Swiss Franc”
Franc is also forming the third ascending structure. We think, today the price may fall to reach level of 0.9330 and then form a correction towards 0.9460. Later, in our opinion, the market may form the fifth descending structure with the target at level of 0.9235.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming an ascending correction with the target at 107.10. We think, today the price may reach level of 106.60, fall towards 106.00, and then move upwards to reach the above-mentioned target at 107.10. Later, in our opinion, the market may start a new descending movement inside the downtrend towards level of 105.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside a wide consolidation channel. We think, today the price may reach level of 0.8880. Later, in our opinion, the market may start falling to return to level of 0.8770.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still forming a consolidation channel. We think, today the price may break it downwards and start forming the first wave of a new correction towards level of 39.38. An alternative scenario implies that the pair may try to reach another new high.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today the price may grow to reach level of 1253. Later, in our opinion, the market may fall again towards 1235 to test it from above and then continue moving upwards to reach the target at 1280.
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