Analysis for May 18th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has defined the upside border of the consolidation channel and then return to the downside one. We think, today the price may test 1.1300 from below and then, after breaking the minimum, reach 1.1200. However, if the channel is broken upwards, the market may start a new correction towards 1.1370.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has expanded its consolidation range upwards and completed the correction; by now, the pair has already formed the descending impulse and the correction. At the moment, the price is trying to break the minimum of this impulse. We think, today the pair may return to the consolidation channel and towards its downside birder. Later, in our opinion, the market may break its low and continue falling with the target at 1.4160.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is moving upwards. We think, today the price may reach 0.9845. After that, the pair may test 0.9750 from above and then grow to reach 0.9945.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating and trying to expand the channel upwards and then return to the center. We think, today the price may for a descending correction to reach the downside border. After that, the pair may reach 110.10 and then continue falling inside the downtrend with the target at 104.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the closest target of the correction and today is moving downwards. After breaking the minimums, the pair continue moving to reach the main target of this wave at 0.7140.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving near the downside border of the consolidation range. We think, today the price may fall to reach 62.00 and then test 64.50 from below.
XAU USD, “Gold vs US Dollar”
Gold is consolidating. We think, today the price may rebound from the channel’s downside border and fall to reach 1248.00. Later, in our opinion, the market may return to 1275.00.
RoboForex Analytical Department
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