Analysis for November 24th, 2014
EURUSD, “Euro vs US Dollar”
The market was opened with a gap down today and Euro attempted to continue falling; such scenario implies that the pair may reach target at level of 1.2300. We think, today the price may return to level of 1.2400, form a consolidation channel, and then break it upwards to test level of 1.2440 from below. Later, in our opinion, the market may continue falling to reach a new low and the above-mentioned target.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. We think, today the price may try to reach a new low. Later, in our opinion, the market may grow towards the upper border of this consolidation channel. This structure may be considered as a part of a reversal pattern.
USDCHF, “US Dollar vs Swiss Franc”
The market was opened with a gap up today and Franc made an attempt to continue growing. We think, today the price may fall towards level of 0.9700 and then form a consolidation cannel. At first, the pair is expected to expand this channel downwards to test level of 0.9666 from above. Later, in our opinion, the market may move upwards to reach level of 0.9775.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still moving inside a narrow consolidation channel. If the price breaks it downwards, the market may reach level of 116.75; if upwards – level of 119.30. Thus, the pair may complete this ascending structure. Later, in our opinion, the market may form a descending consolidation channel.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today the price may form an ascending structure with the target at level of 0.8794. Later, in our opinion, the market may form another consolidation channel and an upside continuation pattern. The next target is at level of 0.8815.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating. We think, today the price may break this channel downwards to reach level of 44.82. Later, in our opinion, the market may form another consolidation range and continue falling towards level of 43.93.
XAUUSD, “Gold vs US Dollar”
Gold continues moving in the center of its third ascending wave. We think, today the price may reach level of 1208.74 and then fall towards level of 1190.00. After that, the price may continue moving upwards as the third wave with the target at level of 1235.00.
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