Analysis for August 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving downwards today. We think, the price may grow a bit and attempt to reach a new high and then continue falling inside the downtrend. The market is expected to form a descending wave with the target at 1.0730.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has expanded its consolidation channel downwards. We think, today, the price may test the center of the channel from below and then continue falling towards 1.5240.
USD CHF, “US Dollar vs Swiss Franc”
Franc has tested 0.9810 from above. We think, today, the price may continue growing to reach 0.9944. Later, in our opinion, the market may start another consolidation and then continue growing towards the parity at 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Yen is returning to 124.52. After reaching it, the price may continue falling towards 122.94 and then start another growth to reach 125.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the fifth ascending structure. We think, today, the price may reach 0.7431 and then test 0.7382. After that, the pair may start a new growth towards 0.7450 and a new descending correction to reach 0.7344.
USD RUB, “US Dollar vs Russian Ruble”
We think, today Ruble may form a descending structure towards 62.00. After that, the price may form a consolidation channel. Later, in our opinion, the market may break the channel downwards and start a new descending wave with the target at 52.50.
XAU USD, “Gold vs US Dollar”
Gold is growing towards the upper border of its triangle
consolidation pattern. We think, the price may rebound from the upper border, fall towards the lower one, and even break it. In this case, the market may reach 1077 and then start a higher correction with the target at 1131.
RoboForex Analytical Department