Forex Technical Analysis 20.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

20.11.2015

Analysis for November 20th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has completed its correction and right now is forming another descending structure towards 1.0692. After reaching it, the price may consolidate. If the pair breaks this consolidation channel downwards, it may continue falling and expand the channel towards 1.0500. According to an alternative scenario, the main target is at 1.0300. However, if the channel is broken upwards, the price may continue the correction up to 1.0870 and then resume falling inside the downtrend.




GBP USD, “Great Britain Pound vs US Dollar”

Pound has expanded its consolidation channel upwards, reached the target, and formed the descending impulse. We think, today, the price may test 1.5300 from below and the continue falling. After breaking the minimum of the first impulse, the instrument may start another wave inside the downtrend to reach 1.5180.




USD CHF, “US Dollar vs Swiss Franc”

Franc is being corrected. Possibly, today the price may reach 1.0107 and then grow towards 1.0280. According to an alternative scenario, the pair may rebound from 1.0150, reach new lows, and extend the correction towards 1.0046. After that, the instrument may continue growing inside the uptrend.




USD JPY, “US Dollar vs Japanese Yen”

Yen has completed one structure of its descending wave. We think, today, the price may grow to return to 123.18 and then form another consolidation channel. If the channel is broken downwards, the price may continue the correction to reach 122.00; if upwards – continue growing towards 123.84.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has reached the target of its ascending structure and right now is consolidating at the top. If the channel is broken downwards, the price may continue falling inside the downtrend to reach 0.7000; if upwards – extend this ascending structure towards 0.7300.




USD RUB, “US Dollar vs Russian Ruble”

Ruble has broken its ascending channel and right now is consolidating above it. If the channel is broken upwards, the price may return to 65.80 to test it from below; if downwards – fall to reach 62.92. According to the main scenario, the instrument is expected to continue falling inside the downtrend.




XAU USD, “Gold vs US Dollar”

Gold has reached the minimum target of its correction. We think, today, the price may start consolidating. If the channel is broken downwards, the pair may continue falling inside the downtrend; if upwards – extend the correction towards 1100.



 
RoboForex Analytical Department

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.