Analysis for November 10th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken its ascending channel and right now is forming another descending wave. We think, today the price may grow towards 1.1000 to test it from below. Later, in our opinion, the market may continue falling to reach 1.0800.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is falling. Possibly, the price may grow towards 1.2600 and complete this ascending wave. After that, the instrument may continue falling inside the downtrend with the target at 1.1600.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken its descending channel. Possibly, the uptrend may continue. The next target is at 1.0000. We think, today the price may be corrected towards 0.9800 (at least) or even test 0.9750. After that, the instrument may continue forming the third ascending wave.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair may choose an alternative scenario and form another ascending structure towards 106.00 to continue the correction. Later, in our opinion, the market may move according to the main scenario and continue falling inside the downtrend to reach 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has formed the impressive descending wave and right now is being corrected. Possibly, the price may grow towards 0.7716 to test it from below and then continue falling to reach 0.7580.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving close to the downside border of the consolidation range. We think, today the price may break it and then continue falling to reach 62.40.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of the descending wave. We think, today the price may grow towards 1307. After that, the instrument may be corrected to reach 1288.
Being under pressure, Brent is moving upwards. Possibly, the price may form the first ascending wave to reach 48.50. Later, in our opinion, the market may be corrected towards 46.70 and then grow with the target at 51.25.
RoboForex Analytical Department
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