Forex Technical Analysis 20.05.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

20.05.2015

Analysis for May 20th, 2015

EUR USD, “Euro vs US Dollar”

After making a fast descending movement yesterday, Eurodollar has formed a consolidation channel. We think, today, the price may break this channel downwards and continue falling. The target is at level of 1.0880.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still falling and forming a descending structure. The first target of this wave is at level of 1.5345. After reaching it, the price may return to level of 1.5578 and then continue falling inside the downtrend.




USD CHF, “US Dollar vs Swiss Franc”

Franc continues forming an ascending wave. We think, today, the price may break level of 0.9362 and then continue growing with the target at level of 0.9545.




USD JPY, “US Dollar vs Japanese Yen”

Yen has reached the target of its ascending wave and formed an upside continuation pattern. We think, today, the price may continue moving towards level of 121.00 and reach it. After reaching it, the price may test return to level of 119.00.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has broken its ascending channel and almost formed a downside continuation pattern.  The whole descending structure may be considered as a correction with the target at level of 0.7815. After that, the pair may return to level of 0.7890 to test it from below.




USD RUB, “US Dollar vs Russian Ruble”

Being influenced by fundamental background, Ruble is still falling. We think, today, the price may continue moving downwards to reach level of 46.00. However, an alternative scenario implies that the pair may break its descending channel and start forming an ascending correction with the target at level of 58.50. This scenario may be forced by the regulator.




XAU USD, “Gold vs US Dollar”

After making a fast descending movement, Gold has formed a consolidation channel. We think, today, the price may break it downwards and continue falling. The target is at level of 1179. Thus, the downtrend may continue towards level of 1113.



 
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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