Forex Technical Analysis 02.11.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

02.11.2016

Analysis for November 2nd, 2016

EUR USD, “Euro vs US Dollar”

Being under pressure, the EUR/USD pair is growing; it has completed the ascending wave as a correction with an extension. We think, today the price may form another consolidation range at the top. Later, in our opinion, the market may break this range downwards and start forming another descending wave to reach 1.0800. The first target is at 1.0935.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still consolidating. We think, today the price may fall towards 1.2175.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has extended its descending structure, which may be considered as a correction. Possibly, today the price may form another consolidation range at the current lows. After that, the instrument may break this range upwards and grow towards 0.9850.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the target of the third descending structure. We think, today the price may return to 104.50 and then form the fifth structure with the target at 103.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has broken its ascending channel. Possibly, today the price may continue falling inside the downtrend to reach 0.7530.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is growing. Possibly, the market may reach 63.60. After that, the instrument may continue falling with the target at 62.20.




XAU USD, “Gold vs US Dollar”

Gold has reached the target of its ascending structure. Possibly, today the price may form another consolidation range. Later, in our opinion, the market may break the low and fall towards 1268.




BRENT

Brent has reached the target of the third descending structure, which may be considered as a correction with an extension. We think, today the price may form another consolidation range. Later, in our opinion, the market may break the range to the upside and form another ascending structure with target at 50.82.



 
RoboForex Analytical Department

Attention!

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.

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