Analysis for September 1st, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming the structure of the third descending wave. The target of the entire wave is at 1.0990; the target of the third wave is at 1.1025. Later, in our opinion, the market may be corrected towards 1.1180 and then continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has almost completed the correction. Possibly, the price may move upwards again to reach 1.3166 and then continue falling inside the downtrend. The local target is at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming the structure of the third ascending wave. The target is at 0.9935. Later, in our opinion, the market may be corrected towards 0.9784. After that, the instrument may continue growing to reach 1.0030.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still being corrected. We think, today the price may reach 103.58. After that, the instrument may continue falling towards 99.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has almost reached the target of the third descending wave. However, the structure of the wave implies that it may be yet extended from 0.7537 to 0.7430.
USD RUB, “US Dollar vs Russian Ruble”
We think, today the USD/RUB pair may grow towards 65.65. Possibly, the pair may reach 65.99 (following the oil prices decline). After that, the instrument may form another descending wave with the target at 63.20.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards. We think, today the price may 1300. After that, the instrument may start another growth towards 1337.
RoboForex Analytical Department
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