Forex Technical Analysis & Forecast 16.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

16.08.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has completed another descending wave inside the third one and right now is being corrected. Possibly, the price may grow towards 1.1785 and then continue forming the third wave to reach 1.1666. And this is just a half of this structure. After that, the instrument may form another consolidation range, break it downwards, and then continue falling inside the third wave with the local target at 1.1490.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has reached the target of the third descending structure. Possibly, the price may be corrected towards 1.3000. Later, in our opinion, the market may move downwards with the target at 1.2732.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is consolidating and forming the correctional structure. We think, the price may fall to reach 0.9694. After that, the instrument may move upwards with the target at 0.9800.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the closest target of the correction. Possibly, today the price may fall towards 109.80. Later, in our opinion, the market may grow with the target at 110.94 and then form another descending wave towards 107.05.

 

AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, the AUD/USD pair is falling and forming another structure of the downside continuation pattern. We think, today the price may continue falling to reach the local target at 0.7755.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still consolidating below 60.03. Possibly, today the price may grow to reach 60.15 and then fall towards 59.80. If later the instrument breaks this consolidation channel to the upside, the market may continue growing towards 61.30; if to the downside – form another descending wave with the target at 58.68.

 

XAU USD, “Gold vs US Dollar”

Gold has completed the descending correction. We think, today the price may grow to reach 1280.20. After that, the instrument may form another descending structure towards 1258.75 and then grow to reach 1320.00.

 

BRENT

Being under pressure, Brent is moving upwards. Possibly, today the price may reach 52.15. Later, in our opinion, the market may fall towards 51.30 and then continue growing inside the uptrend with the target at 53.50. If later the instrument breaks this level, the uptrend may continue up the local target at 55.15.

 

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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