Analysis for October 28th, 2014
EURUSD, “Euro vs US Dollar”
Euro is forming an ascending structure, which may be considered as the third wave. We think, today the price may complete this structure with the target at level of 1.2770 and then fall towards level of 1.2700. Later, in our opinion, the market may continue moving upwards to reach level of 1.2930, consolidate there, and then form an upside continuation pattern with the target at 1.3220.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is moving inside the third ascending wave. We think, today the price may grow to 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.
USDCHF, “US Dollar vs Swiss Franc”
Franc is moving inside the third descending wave. We think, today the price may reach level of 0.9450 and then return to level of 0.9500. Later, in our opinion, the market may continue falling to reach level of 0.9350.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming another descending structure. We think, today the price may continue falling to reach the next target at 106.70 and then return to level of 107.40. Later, in our opinion, the market may resume moving inside the downtrend. The next target will be at level of 105.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has formed an upside continuation pattern near the broken border of triangle pattern. We think, today the price may grow towards level of 0.8880 and then fall to return to level of 0.8800.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still forming the third ascending wave; the pair has broken another consolidation channel. We think, today the price may grow towards level of 42.58. we should note that the market has already reached its upside targets and may start a fast descending movement towards level of 34.00 at any moment.
XAUUSD, “Gold vs US Dollar”
Gold is under pressure and continues moving downwards. Possibly, today the price may make another attempt to reach level of 1218. Later, in our opinion, the market may start forming another ascending wave with the target at level of 1260.
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