Analysis for November 27th, 2013
Euro reached target of its ascending wave. We think, today price may start new correction towards 1.3440. We should note, that right now market is moving inside the fifth ascending wave with target at 1.4100; possible correction may be short, with continuation patterns. Alternative scenario implies that pair may reach level of 1.3500 in order to continue its ascending movement.
Pound continues consolidating. We think, today price may continue growing up to break this consolidation channel upwards. Target of this growth is at 1.6350.
Franc renewed minimum of the first descending wave once again. This may result in formation of consolidation structure at current levels, which may be considered as continuation pattern to continue descending trend. Alternative scenario implies that pair may start new correction to return to level of 0.9120 and then continue falling down.
Yen completed descending impulse. We think, today price may start new ascending structure to reach new maximum and then form reversal pattern. Later, in our opinion, pair may start new descending movement towards 101.00.
Australian Dollar renewed minimum of its consolidation structure. We think, today price may continue falling down towards 0.9060 and then form new ascending structure to reach 0.9200.
Gold is still consolidating near 1243. We think, today price may fall down towards 1230 and then start new ascending movement to reach 1250.
RoboForex Analytical Department