Analysis for November 7th, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is falling. Possibly, the price may break the current consolidation range downwards and then continue falling inside the downtrend to reach 1.0970. Later, in our opinion, the market may grow to return to 1.1064.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is falling as well. Possibly, the price may reach 1.2300. Later, in our opinion, the market may form another ascending structure with the target at 1.2633.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken its consolidation range upwards. Possibly, the price may grow to reach 0.9865. After that, the instrument may start another descending movement towards 0.9785.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is growing. We think, today the price may extend this wave towards 106.00 and complete the current uptrend. Later, in our opinion, the market may start falling to break 100.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating in the center of the range without any particular direction. Possibly, today the price may choose an alternative scenario: break the range upwards and grow to reach 0.7718. However, if the market breaks the range downwards, it may continue falling inside the downtrend to reach 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed the ascending wave. We think, today the price may fall towards 62.87 and then move upwards to reach 63.15.
XAU USD, “Gold vs US Dollar”
Gold is still forming the descending impulse. Possibly, the price may continue forming this descending wave towards 1284 (the first target of the correction). After that, the instrument may return to 1297.
Brent is consolidating. Possibly, the price may fall towards 46.00 once again and then grow to return to 48.00. The market is expected to form a new ascending wave towards the upside border of the daily range.
RoboForex Analytical Department