Analysis for November 3rd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still growing; this structure may be considered as a correction. According to the main scenario, the price may form another consolidation range. Later, in our opinion, the market may break this range downwards and start forming another descending wave to reach 1.0800.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is growing. Possibly, the price may expand the consolidation range towards 1.2448. Later, in our opinion, the market may fall towards 1.2280.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is falling. Possibly, today the price may form another consolidation range with a reversal pattern. After that, the instrument may break this range upwards and continue growing inside the uptrend. The first target is at 0.9860.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is falling as well. Possibly, the price may reach 101.33. This descending structure may be considered as a part of the trend wave with the target at 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is attempting to grow and break the highs of the consolidation range. Right now, the price may grow and reach 0.7740 (an alternative scenario). However, according to the main scenario, the price may continue falling inside the downtrend to reach 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of another ascending wave. We think, today the price may fall with the target at 62.20. The entire structure may be considered as the flag
XAU USD, “Gold vs US Dollar”
Gold has reached the target of the third ascending wave and right now is consolidating. Possibly, today the price may fall towards 1275 (at least). Later, in our opinion, the market may start growing with the target at 1310.
Brent has expanded its consolidation range to the downside. We think, today the price may grow towards 52.80. According to the main scenario, the instrument may reach 54.64.
RoboForex Analytical Department
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