Analysis for October 31st, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the structure of the ascending wave. We think, today the price may form another descending wave. The first target is at 1.0908. Later, in our opinion, the market may grow to reach 1.0950.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming the triangle
consolidation pattern. We think, today the price may fall towards 1.2060. If this level is broken to the downside, the market may continue falling inside the downtrend to reach 1.1650. However, if the instrument breaks the pattern’s upside border, it may grow with the target at 1.2600.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending wave. We think, today the price may grow to reach 0.9930. After that, the instrument may fall towards 0.9890.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the first target of the descending impulse. We think, today the price may grow towards 105.03 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 103.30.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has broken its consolidation range upwards. Possibly, the price may grow to reach 0.7650 and then fall towards 0.7580. The local target is at 0.7515.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing. Possibly, the market may be corrected towards 63.60. After that, the instrument may continue falling with the target at 61.30.
XAU USD, “Gold vs US Dollar”
Gold is growing towards 1290. Possibly, today the price may reach this level and then start another correction with the target at 1268.
Brent has completed the third correctional structure. We think, today the price may form the fourth one with the target at 51.50 (at least). Later, in our opinion, the market may form the fifth structure, a descending one, to reach 50.00.
RoboForex Analytical Department
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