Analysis for October 26th, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is growing and may break its consolidation range to the upside. Possibly, the price may be corrected towards 1.0950 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1.0800.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has almost reached the target of the flag
correctional pattern. We think, today the price may grow to reach 1.2333 and then resume falling with the target at 1.2200.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is falling. Possibly, the price may form another correctional structure towards 0.9919. After that, the instrument may grow towards 1.0030 and continue moving inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still forming the descending impulse. Possibly, the price may reach 103.00 and then return to 103.90.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating at the top of its ascending impulse. We think, today the price may reach 0.7584 and then continue falling inside the downtrend. An alternative scenario suggests that the market may form another ascending structure towards 0.7750.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is falling towards 61.30. An alternative scenario (considering the oil prices decline) suggests that the market may test 62.95 from below and then fall to reach the local target at 61.30.
XAU USD, “Gold vs US Dollar”
Gold is growing towards 1290. Possibly, the price may break 1280 and form an upside continuation pattern. In fact, the market is expected to the ascending wave with the main target at 1310.
Brent is still being corrected. The market was opened with a gap down and the price broke the low of the consolidation range. Possibly, the instrument may fall to reach the local target at 50.54. Later, in our opinion, the market may grow to test 52.50 from below and then fall to reach 50.30.
RoboForex Analytical Department
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