Analysis for October 29th , 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached another target of the correction and completed it, and right now continues forming its descending wave. We think, today, the price may return to 1.0998 to test it from below. In fact, the pair is forming a continuation pattern to break 1.1000. After that, the instrument may continue falling inside the downtrend. The next downside target is at 1.0742.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is falling towards its local target at 1.5241. After reaching it, the pair may start the correction towards 1.5300 to test it from below and then fall to reach 1.5165. This is just a half of the descending wave.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached another target and extended its ascending structure. We think, today, the price may fall to test 0.9886 from above and then move upwards to reach 1.0042.
USD JPY, “US Dollar vs Japanese Yen”
In case of Yen, the whole descending structure may be considered as a single wave, which has already been corrected. We think, today, the price may from another descending structure to reach 119.07. After that, the instrument may return to 120.11.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached another downside target. We think, today, the price may return to 0.7189 to test it from below and then start another decline to reach the local target at 0.7015.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has tested 65.70 from below, rebounded from it, and started forming another descending structure. The target of this wave is at 60.00. After reaching it, the pair may form another correction to return to 64.50 and then start a new decline. The target is still at 57.00.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of the correction. We think, today, the price may grow towards 1166 and then return to 1159. After that, the instrument may start growing towards 1179. The market is expected to form the wave with the local target at 1206.
RoboForex Analytical Department