Analysis for August 29th, 2016
EUR USD, “Euro vs US Dollar”
Being influenced by the news, the EUR/USD pair has broken 1.1200 downwards. If fact, the market has resumed falling inside the downtrend to reach 1.0720. At the moment, the instrument is forming the first part of this wave with the target at 1.1100. We think, today the price may reach 1.1110 and then return to 1.1233 to test it from below.
GBP USD, “Great Britain Pound vs US Dollar”
Being influenced by the news, the GBP/USD pair is still falling. We think, today the price may reach 1.3000 and then consolidate and form a reversal pattern. The next target is at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
Being influenced by the news, the USD/CHF pair has reached the first upside target. Possibly, the price may be corrected towards 0.9660 (an alternative scenario). Taking into account the continuation pattern at 0.9727, the market may extend this structure towards 0.9900 without any correction (the main scenario).
USD JPY, “US Dollar vs Japanese Yen”
Being influenced by the news, the USD/JPY pair is growing. Possibly, the price may be corrected towards 103.55. After that, the instrument may continue falling inside the downtrend to reach 96.00.
AUD USD, “Australian Dollar vs US Dollar”
Being influenced by the news, the AUD/USD pair is moving downwards. We think, today the price may reach the local target at 0.7494. Later, in our opinion, the market may be corrected towards 0.7590 and then continue falling to reach 0.7430.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still moving upwards to reach 65.65. After that, the instrument may fall with the target at 63.20.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards. Possibly, the current correction may continue (an alternative scenario). The next target is at 1297. However, the main scenario suggests that the price may move upwards to reach 1342.
RoboForex Analytical Department
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