Analysis for October 11th, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is falling towards its target. Later, in our opinion, the market may be corrected to reach 1.1170 and then continue falling inside the downtrend towards 1.0720.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating. Possibly, the price may reach 1.2270 and then return to 1.2360, thus forming another consolidation range. If later the market breaks this range downwards, it may continue falling to reach 1.2065; if upwards – grow with the target at 1.2633.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is growing and breaking 0.980 to the upside. Possibly, the price may grow towards 0.9940 and then start a new correction to return to 0.9800. After that, the instrument may form another ascending structure with the target at 1.0300.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is moving upwards. The price is expected to finish the fifth wave with the target at 104.42 and complete this entire correctional structure. After that, the instrument may continue falling inside the downtrend with the target at 96.00. The local target is at 98.00.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is falling. We think, today the price may reach 0.7531 and then start another correction towards 0.7600. Later, in our opinion, the market may continue falling to reach the local target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving to break 61.90 to the downside. After that, the instrument may reach 61.30 and then start another correction towards 63.60. Later, in our opinion, the market may continue falling with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is falling. This decline may be considered as a correction towards 1253. Later, in our opinion, the market may continue growing with the first target at 1276. The main upside target is at 1310.
Being under pressure, Brent is growing. We think, today the price may reach 54.64. After that, the instrument may be corrected towards 50.50. Later, in our opinion, the market may form the fifth wave to reach the target at 55.50.
RoboForex Analytical Department