Analysis for December 2nd, 2013
Euro is still moving inside consolidation channel. We think, today price may continue growing up towards 1.3640 and then return to 1.3565. Later, in our opinion, pair may continue forming ascending structure to reach target at 1.3700.
Pound is still moving upwards; market is extending its central structure. We think, today price may fall down to reach target at 1.6120. Alternative scenario implies that pair may grow up to reach new maximum and then start forming descending correction.
Franc is still consolidating inside continuation pattern of down trend. We think, today price may reach level of 0.9019, return to 0.9075, and then continue falling down towards target at 0.8900.
Yen continues forming its consolidation channel. We think, today price may continue falling down towards its first target at 101.70. Alternative scenario implies that pair may move upwards, reach 102.90 (it’s the third resistance level for this ascending wave), and then start falling down towards level of 99.70.
Australian Dollar is forming ascending structure towards level of 0.9180. After reaching this level, price may return to 0.9117 and then continues forming this ascending structure. Its first target is at 0.9400.
Gold is still consolidating. We think, today price may fall down towards 1236 and then move upwards to reach 1246. Main scenario implies that later instrument may continue falling down towards level of 1195. Alternative scenario suggests that market may form ascending correction to test level of 1280 from below and then start falling down.
RoboForex Analytical Department