Analysis for November 17th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside the main downtrend. We think, today, the price may reach 1.0630 and then return to 1.0730. After that, the instrument may continue falling inside the downtrend to reach 1.0500. All ascending structures should be considered alternative corrections. The main scenario suggests that the downtrend may continue towards the target at 1.0300.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken 1.5184 and right now continues moving downwards. We think, today, the price may reach 1.5140 and then test 1.5184 from below. After that, the instrument may continue falling to reach 1.5111. The main scenario suggests that the market may continue falling inside the downtrend towards 1.5000.
USD CHF, “US Dollar vs Swiss Franc”
Franc has expanded its consolidation channel and reached the target. We think, today, the price may test 1.0044 from above and then grow to reach 1.0185. The main scenario suggests that the market may continue growing inside the uptrend towards the next target at 1.0250.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving upwards. We think, today, the price may reach 123.84, fall towards 122.00, and then form the fifth wave with the target at 125.30. This growth may be considered as an alternative scenario. The main scenario suggests that the market may continue falling inside the downtrend to towards 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar is moving downwards. So far, the pair has been able to form a three-wave descending and ascending structures; now the market has equal odds to reach both 0.7000 and 0.7182. Right now, the price is consolidating. If this channel is broken upwards, the pair may complete the correction; if downwards – reach the target of its descending wave.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is consolidating near its highs. We think, today, the price may break the lower border of the channel and start another descending wave with the target at 60.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is falling. We think, today, the price may reach 1.069.56 and then form another consolidation channel, maybe test 1083.00 from below. Later, in our opinion, the market may start another decline to reach the next target at 1056.40. The main downside target is at 1015.00.
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.