Analysis for September 21st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has completely neutralized last Thursday’s fundamental background and right now continues falling. We think, today, the price may reach 1.1242 and then return to 1.1355 to test it below. After that, the market may form another descending structure with the target at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has finished its ascending wave and right now is forming another descending impulse. We think, today, the price may reach 1.5462 and then return to 1.5555 to test it from below. After that, the market may fall to reach 1.5407.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completely neutralized last Thursday’s fundamental background and right now continue growing to reach 0.9733. After that, the market may return to 0.9620 and then start another growth towards the target at 0.9870.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still trading in the center of its consolidation channel; this structure looks like triangle and may be considered as a downside continuation pattern for the third wave. The local target is at 115.00. We think, today, the price may fall to reach 118.70. An alternative scenario suggests that the market may try to grow to the pattern’s upper border, rebound from it, and then fall to break the lower one.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is falling; this descending movement may be considered as the fourth wave. The target is at 0.7100. After that, the market may form the fifth wave to reach 0.7296.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming another descending structure to reach a new low. After that, the pair may rebound from 66.00 and continue falling towards 60.00.
XAU USD, “Gold vs US Dollar”
Gold has formed upside continuation patterns and right now is growing. The predicted target is at 1161.20. After that, the price is expected to form another consolidation channel and fall towards 1134.40. Later, in our opinion, the market may resume growing to reach the local target at 1220.00.
RoboForex Analytical Department