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Forex Technical Analysis 28.09.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for September 28th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is forming another descending structure. The price rebounded from 1.1224 and may continue falling towards 1.1170. Later, in our opinion, the market may be corrected to return to 1.1224 and then move downwards again to reach 1.1116.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair broke its consolidation range upwards and may be corrected with the target at 1.3100. According to an alternative scenario, the price may return to the upside border of the daily consolidation range. After that, the instrument may continue falling inside the downtrend towards the local target at 1.2800.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is growing towards 0.9800; this ascending movement may be considered as a part of the wave with the target at 0.9940.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is moving in the center of the consolidation range without any particular direction. Possibly, today the market may return to the upside border of the range and then move downwards to break 100.00. The local target is at 98.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair completed its ascending wave. Possibly, the price may extend this wave up to 0.7700. After that, the instrument may form another consolidation range with a reversal pattern and then continue falling inside the downtrend to reach 0.7400.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is consolidating. Possibly, the price may move towards 64.72. Later, in our opinion, the market may continue falling inside the downtrend to reach 63.00.




XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is falling. Possibly, today the price may test 1330 from below and then continue falling towards 1318. This structure may be considered as a part of the fifth descending wave with the target at 1295.




BRENT

Being under pressure, Brent is falling as well. We think, today the price may form another structure of the fifth wave. The target is at 45. The instrument is expected to complete the current correction and then start growing towards 52.20.



 
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