Analysis for September 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving upwards and may reach 1.1308; this structure may be considered as another part of the correction. The pair has almost formed flag
pattern. We think, today, the price may complete the correction and continue moving inside the downtrend to reach 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is moving downwards. We think, today, the price may reach 1.5108. We should note that this descending wave was formed without any corrections, that’s why the pair may start one quite soon (an alternative scenario). The main scenario remains the same – the market is expected to continue falling inside the downtrend towards 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still being corrected. The pair has already reached its closest target and the next one is at 0.9625. After that, the market may form another ascending structure with the target at 0.9870.
USD JPY, “US Dollar vs Japanese Yen”
Yen has broken 120.00 and continues falling towards triangle
’s lower border. We think, today, the price may break it and continue falling towards the predicted target at 115.00. After that, the market may consolidate close to this level (as a continuation pattern), thus specifying the target of this descending wave.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar is moving upwards; the pair has formed another consolidation channel. If the price breaks this channel downwards – it may expand it towards 0.6910. After that, the market may return to the center of the channel to test 0.6975 from below and then continue falling to reach 0.6910.
USD RUB, “US Dollar vs Russian Ruble”
Following the oil prices, Ruble is trying to move upwards and reach 67.00. After that, the market may fall towards 64.50 and then return to 66.00. Later, in our opinion, the price may continue falling to reach the target at 63.00.
XAU USD, “Gold vs US Dollar”
Gold has extended its correction towards 1125. We think, today, the price may complete this correction and then start growing to reach 1160. Later, in our opinion, the market may consolidate, form a continuation pattern, and continue moving upwards to reach at 1220.
RoboForex Analytical Department