Analysis for October 31st, 2014
EURUSD, “Euro vs US Dollar”
Euro has formed a correction towards yesterday’s ascending impulse. We think, today the price may grow to break the top of the impulse and continue moving upwards to reach level of 1.2724. Later, in our opinion, the market may resume falling to return to level of 1.2635.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has formed a correction towards yesterday’s ascending impulse. We think, today the price grow to break the top of the impulse and continue moving upwards to reach level of 1.6073. Later, in our opinion, the market may consolidate and form an upside continuation pattern. The pair is expected to form an ascending structure towards level of 1.6200.
USDCHF, “US Dollar vs Swiss Franc”
Franc has formed a correction towards yesterday’s descending impulse. We think, today the price may fall to break the minimum of this impulse. Later, in our opinion, the market may reach level of 0.9478 and then move upwards again to reach level of 0.9540.
USDJPY, “US Dollar vs Japanese Yen”
Yen continued moving upwards and reached the target of this wave’s extension. We think, today the price may consolidate and form a reversal pattern. Later, in our opinion, the market may continue falling to reach level of 109.16.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has completed another correctional structure. We think, today the price may reach level of 0.8863 and then fall to return to level of 0.8808. Later, in our opinion, the market may form another ascending structure with the target at 0.8910.
USDRUB, “US Dollar vs Russian Ruble”
Ruble has formed a strong descending impulse. We think, today the price may reach level of 41.078 and then form a correction to return to level of 42.38. Later, in our opinion, the market may start the third descending wave to break level of 41.78. The predicted target is at level of 39.86.
XAUUSD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards. We think, today the price may reach level of 1179 and then form a consolidation range. It the range is broken downwards, the downtrend may continue; if upwards – the market may return to level of 1217.
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