Analysis for October 29th, 2014
EUR USD, “Euro vs US Dollar”
Euro continues forming the third ascending wave. We think, today the price may reach level of 1.2775, consolidate, and form a continuation pattern. The market is expected to form a structure with the target at 1.2930.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming the third ascending wave. We think, today the price may break level of 1.6180 and then reach level of 1.6200. Later, in our opinion, the market may consolidate for a while and form an upside continuation pattern with the target at level of 1.6400. After that, the pair may form a correction to return to level of 1.6200 and then start the fifth wave towards level of 1.6530.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside the third descending wave. We think, today the price may form a descending structure to reach level of 0.9350 and form a consolidation channel and a downside continuation pattern. The target of the third wave is at level of 0.9135.
USD JPY, “US Dollar vs Japanese Yen”
Yen is attempting to avoid any fast descending movements. We think, today the price may form a descending structure with the target at level of 107.52 and then return to level of 107.93. Later, in our opinion, the market may continue moving inside the downtrend. The first target is at level of 105.00.
AUD USD, “Australian Dollar vs US Dollar”
USD RUB, “US Dollar vs Russian Ruble”
Ruble has expanded its range and reached the target. We think, today the price may fall towards level of 42.25 and then move upwards again to reach level of 42.79. We should note that the market continues forming an ascending structure due to the breaking a consolidation channel and may start a fast descending correction at any moment.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating near its lows and forming divergent triangle pattern. We think, today the price may fall inside this consolidation range from its upper border at 1237.24 towards the lower one at 1218.88. Later, in our opinion, the market may resume growing to reach the target at level of 1260.
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