Analysis for October 2nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is forming the descending wave with the target at 1.1000. We think, today, the price may reach 1.1220, fall inside the downtrend to break triangle
pattern, and then continue moving downwards to reach the above-mentioned target. After that, the market may start another correction towards 1.1350.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating below 1.5155. This structure may be considered a continuation pattern of the downtrend. The main target of this wave is at 1.4660. An alternative scenario suggests that the pair may form the correction towards 1.5340, continue falling inside the downtrend, and form a “wide” five-wave structure.
USD CHF, “US Dollar vs Swiss Franc”
Franc has rebounded from 0.9730 and formed another ascending impulse. We think, today, the price may grow to break 0.9788 ad then continue moving towards 0.9870. After that, the market may fall to return to 0.9760 to test it from above then continue growing inside the uptrend. The next target is at 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still consolidating around 120.00 without any particular direction. The main scenario implies that the price is expected to continue falling inside the downtrend to reach the local target at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another descending impulse towards 0.7007. After that, the market may return to 0.7050, thus defining the borders of another consolidation channel. If the pair breaks this channel upwards, it may continue moving to return to 0.7158; if downwards – fall to reach 0.6900.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is consolidating. Possibly, today the price may test 67.00 and then fall towards the lows of the third wave. After that, the market may break the channel downwards to reach the local target at 60.00 and then grow to return to 64.50.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold continues falling; it hasn’t been able to continue the correction, but the extension
may reach 1105. Later, in our opinion, the market may form another consolidation channel. If the price breaks this channel upwards, it may continue growing towards 1160; if downwards – fall inside the downtrend to reach 1094.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.