Analysis for November 1st, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the first descending impulse and the correction. We think, today the price may form another descending impulse to break 1.0939. The instrument is expected to form the descending wave with the target at 1.0888. Later, in our opinion, the market may grow to reach 1.0940.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating and trying to fix above 1.2195. Possibly, the price may grow towards the upside border of the range at 1.2285. After that, the instrument may start falling to reach the downside border at 1.2070.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is growing towards 0.9900. After that, the instrument may fall towards 0.9884 and then grow with the target at 0.9930.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed the descending impulse and the correction. We think, today the price may continue falling towards 104.45. The local target is at 103.72.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the target of its ascending structure. Possibly, the price may extend it towards 0.7677 and then start falling to reach 0.7530.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing. Possibly, the market may be corrected towards 63.60. After that, the instrument may continue falling with the target at 62.20.
XAU USD, “Gold vs US Dollar”
Gold is growing towards 1290. Possibly, today the price may reach this level and then start another correction with the target at 1268.
Brent has reached the final target of the correction. We think, today the price may form another consolidation range at its lows. Later, in our opinion, the market may break the range to the upside and form another ascending wave to reach 54.64. The first target is at 51.31.
RoboForex Analytical Department
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