Analysis for August 12th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has corrected the previous ascending impulse. We think, today the price may form another ascending impulse towards 1.1215. Later, in our opinion, the market may fall towards the downside border of the correctional channel at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is falling in the third descending wave with the target at 1.2800. After that, the instrument may return to 1.3100 and then fall to reach 1.2650.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming an ascending impulse. We think, today the price may test 0.9730 from above. Later, in our opinion, the market may form another ascending impulse with the target at 0.9820.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair may continue moving upwards according to an alternative scenario to reach 102.87, thus forming a five-wave correction. After that, the instrument may fall to break the minimum of this correctional channel. The downside target is at 99.50.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the first descending wave with the predicted target at 0.7625. After that, the instrument may return to .0.7690 and then continue falling inside the downtrend with the target at 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving downwards with the target at 63.90. We think, today the price may reach it and then consolidate to form a reversal pattern. Later, in our opinion, the market may grow towards 67.25 (at least).
XAU USD, “Gold vs US Dollar”
Gold is still consolidating in the center of the channel near 1340. We think, today the price may move towards either 1330 or 1358, but rather 1330 than 1358. After reaching one of these targets, the market may grow towards 1360.
RoboForex Analytical Department
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