Analysis for August 8th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving in the center of the descending structure. We think, today the price may form another consolidation channel near 1.1100. After breaking it downwards, the market may continue falling to reach 1.1030 at least or even extend this structure towards 1.0972. After that, the pair may grow towards 1.1100 to test it from below.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has almost completed the descending wave. We think, today the price may consolidate. After breaking the consolidation range downwards, the market may reach the target at 1.2800. Possibly, later the pair may return to 1.3200 to test it from below. Later, in our opinion, the market may continue falling towards the above-mentioned target.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is falling towards 0.9770. Later, in our opinion, the market may grow to reach 0.9840 and then form another descending structure with the target at 0.9750. After that, the pair may move upwards to reach 0.9908.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is trying to form the correction towards 103.00. The main scenario implies that the price may fall to reach 99.50 and then form another consolidation range. After breaking it downwards, the market may reach 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating near 0.7620. We think, today the price may reach 0.7570 and then return to 0.7620. Later, in our opinion, the market may break the lows and fall towards 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken 65.67 downwards. We think, today the price may continue falling inside the downtrend to reach 64.40 and then test 65.65 from below. Later, in our opinion, the market may reach 63.60.
XAU USD, “Gold vs US Dollar”
Gold is moving in the center of its consolidation range. We think, today the price may continue consolidating. Possibly, the instrument may reach 1348.60 and then fall towards 1330.00. Later, in our opinion, the market may grow towards 1367.80 and then return to 1340.00. After breaking it upwards, the price may move to reach the main target at 1440.00.
RoboForex Analytical Department
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