Analysis for October 24th, 2014
EUR USD, “Euro vs US Dollar”
Euro is moving inside a descending structure near its minimums. We think, today the price may consolidate and then form a reversal pattern. The market is expected to start another ascending wave with the target at level of 1.2928.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still moving close to the minimums of its descending structure. We think, today the price may consolidate and form a reversal pattern to start another ascending wave with the target at level of 1.6200.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving near the maximums of its ascending structure. We think, today the price may consolidate and form a reversal pattern for a new descending wave with the target at level of 0.9350.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the targets of its ascending wave. We think, today the price may consolidate and form a reversal pattern to start a new descending movement with the target at level of 105.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has formed triangle pattern near its minimums. We think, today the price may start forming another ascending structure to break level of 0.88. The target of this ascending movement is at level of 0.8880.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside an ascending structure. We think, today the price may test level of 41.12 from above and then form another ascending structure towards level of 41.96. Later, in our opinion, the market may consolidate and form a reversal pattern for a new descending correction.
XAU USD, “Gold vs US Dollar”
Gold is still moving inside a descending correction. We think, today the price may return to level of 1240 and then fall towards 1235. Later, if the market breaks level of 1245 upwards, the instrument will continue growing towards level of 1261. However, if the market breaks level of 1230 downwards, it will continue moving inside this descending correction to reach level of 1218.
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