Analysis for December 30th, 2013
After making descending movement, Euro is still consolidating. We think, today price may continue forming ascending structure towards level of 1.4100. Alternative scenario implies that instrument may first form correction to reach 1.3555 and then continue growing up towards the above-mentioned target.
After breaking maximums, Pound is consolidating. We think, today price may continue moving upwards to reach level of 1.7150. Alternative scenario implies that instrument may fall down towards 1.6300.
Franc is forming divergent triangle pattern; market may try to test level of 0.9060 from below. Later, in our opinion, instrument may continue moving inside down trend towards level of 0.8300.
Yen is still moving upwards; market hasn't formed any reversal structures yet. We think, today price may reach target at 106.30.
Australian Dollar reach its another target. We think, today price may return to level of 0.8958. We should note that market is moving inside down trend and any correction may be considered as a good opportunity to increase short positions. Next target is at 0.8720. Later, in our opinion, instrument may consolidate for a while and then continue falling down. Main target is at 0.8400.
Gold is still forming the fifth descending wave with target at 1175. After reaching it, instrument may form reversal pattern and start new ascending movement towards 1360.
RoboForex Analytical Department