Analysis for September 24th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has tested the broken ascending channel from below. The main scenario implies that the price may continue falling inside the downtrend to reach the target of the fifth wave at 1.1000. An alternative scenario suggests that the market may try to extend the correction towards 1.300 and after that – continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has extended its wave and broken the ascending channel and right now is trying to form a correction to return to the level the channel was broken. The main scenario remains the same – the price may continue moving inside the downtrend to reach the local target at 1.4660. An alternative scenario suggests that the market may form the correction first and then continue falling.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues forming the ascending wave and reaching new highs. The main target is at 0.9870. We think, today, the price may choose an alternative scenario and form a correction to test 0.9730 from above. After that, the market may continue growing towards the above-mentioned target.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, Yen is moving downwards in the center of triangle
consolidation pattern close to 120.00. We think, today, the price may continue falling inside the downtrend towards 115.00. An alternative scenario suggests that the market may try to continue consolidating and grow towards 121.00. Later, the pair may resume falling.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar continues falling inside the downtrend. If the price leaves the descending channel, it may consolidate for a while and form a reversal pattern. The next main target is at 0.7295.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving in the center of its consolidation channel without any particular direction. Today, the behavior of the price depends the oil market. The main scenario implies that the pair may continue falling to reach 64.00, break it, and then form the wave with the target at 60.00. An alternative scenario suggests that the market may extend the channel towards 67.00 and then continue falling inside the downtrend.
XAU USD, “Gold vs US Dollar”
Gold has completed another ascending impulse. We think, today, the price may fall towards 1127 to test it from above. Later, in our opinion, the market may continue growing towards the next target at 1160.
RoboForex Analytical Department
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