Analysis for October 10th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating. According to the main scenario, the price may fall to break the lows and reach the target at 1.1100. An alternative scenario suggests that the market may break the range to the upside and reach 1.1217, and only after that continue falling inside the downtrend to reach the above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating. Possibly, the price may form the triangle
pattern. If later the market breaks this pattern downwards, it may be corrected towards 1.2065; if upwards – grow to test 1.2633 from below.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected. Possibly, the price may fall towards 0.9750 and then grow to reach 0.9833. After that, the instrument may form another consolidation range. If later the market breaks this consolidation range upwards, it may grow with the target at 0.9940; if downwards – continue the current correction towards 0.9750.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has expanded its consolidation range downwards. We think, today the price may extend this decline towards 102.61 and then return to 103.38, thus forming another consolidation range. If later the market breaks this range upwards, it may grow to reach 104.42; if downwards – continue falling inside the downtrend with the target at 101.71.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another consolidation range. If later the market breaks this range downwards, it may fall towards 0.7500; if upwards – start a new correction to reach 0.7650.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating around 62.22. If the market breaks this consolidation range upwards, it may continue the correction to reach 63.60; if downwards – continue falling inside the downtrend with the target at 61.30.
XAU USD, “Gold vs US Dollar”
Gold is moving towards 1276.70. Later, in our opinion, the market may return to 1258.50, thus forming a new consolidation range. After breaking it to the upside, the instrument may return to 1310.00.
Brent is consolidating around 51.82. If the instrument breaks this consolidation range downwards, the correction may continue to reach 50.60; if upwards – start growing with the target at 53.55.
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.