Analysis for September 22nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to continue the correction and right now continues falling; this wave is considered as the fifth one with the target at 1.1000. The fact that the market is unable to form a wide structure may be considered as a warning that this descending structure is a trend one. After reaching the target, the price may form a narrow consolidation channel without corrections and then continue falling towards 1.0800.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. This consolidation channel may be considered as a downside continuation pattern; the target of this structure is at 1.5407. After that, the market may start a correction to return to 1.5525 and then continue falling inside the downtrend to reach the local target at 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues reaching new highs inside the ascending wave. We think, today, the price may reach 0.9780 and then fall to test 0.9730 from above. After that, the market may start another growth towards the target at 0.9870.
USD JPY, “US Dollar vs Japanese Yen”
Yen is following the stock market and trying to stay inside its consolidation channel. This consolidation range is considered as the downtrend continuation pattern. After the price breaks the lows, the next target will be at 115.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is trying to return to 0.7180 to test it from below. After that, the market may resume falling to reach 0.7080 (at least) and then form the fifth ascending wave towards 0.7295.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is consolidating near 66.00. Possibly, the pair may test 66.80 from below and then continue falling towards 64.58. If the price extends this structure, it may be considered as a continuation pattern towards 62.00.
XAU USD, “Gold vs US Dollar”
Gold is still being corrected. We think, today, the price may reach 1127.50. Later, after breaking flag pattern upwards, the market may form another ascending structure with the target at 1161.20.
RoboForex Analytical Department