Analysis for August 17th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the descending impulse and the correction. We think, today the price may break the low of the first descending impulse. The target is at 1.1176. After that, the instrument may be corrected towards 1.1240 and then continue falling to reach 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is moving to return to 1.3086. We think, today the price may reach this level and then continue falling inside the downtrend towards the local target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the ascending impulse and the correction in the form of the flag
. We think, today the price may break the high of the first impulse and then continue growing to reach 0.9700. The market is expected to form the structure of the wave inside the uptrend towards 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to the broken neckline
to test it from below. After that, the instrument may form another descending structure towards 99.00 and then return to 100.87. Later, in our opinion, the market may continue falling inside the downtrend towards the local target at 98.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is falling with the target at 0.7640. After breaking the low of the first wave, the market may form another consolidation range as a continuation pattern. This wave is considered to be the third one with the predicted target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still moving downwards. Possibly, this structure may be extended towards 62.50. Later, in our opinion, the market may return to 64.50 to test it from below and then fall with the target at 62.00.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of the ascending wave; the market has already completed the descending impulse and the correction. We think, today the price may break the low and then continue falling to reach 1326. After that, the instrument may grow again with the target at 1366.
RoboForex Analytical Department
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