Analysis for September 29th, 2016
The EUR/USD pair has reached the closest target of the correction. We think, today the price may form another descending wave and then start consolidating. If later the market breaks this consolidation range downwards, it may continue falling with the target at 1.1135; if upwards – start a new correction to reach 1.1240.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”The GBP/USD pair has almost completed the correctional structure. We think, today the price may break this correctional channel and continue falling inside the downtrend towards the local target at 1.2800. After that, the instrument may return to 1.2940.
USD CHF, “US Dollar vs Swiss Franc”The USD/CHF pair has finished the correction. We think, today the price may continue growing to break 0.9740. The local target is at 0.9800.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair is moving to return to 101.70. Later, in our opinion, the market may fall to break 100.00 and then reach the local target at 98.00.
AUD USD, “Australian Dollar vs US Dollar”The AUD/USD pair has reached the target of the extended ascending wave. We think, today the price may form another descending impulse towards 0.7650 and then start a new correction to reach the broken ascending channel. After that, the instrument may continue falling towards 0.7500.
USD RUB, “US Dollar vs Russian Ruble”Possibly, today the USD/RUB pair fall towards 62.42. In fact, the market is moving to reach the main target at 60.00. After that, the instrument may be corrected towards 69.00 (at least).
XAU USD, “Gold vs US Dollar”Gold has reached the target of the descending structure. We think, today the price may be corrected towards 1330. Possibly, the market may form a small consolidation range. After breaking it downwards, the instrument may continue falling with the target at 1295.
BRENTBeing influenced by the news, Brent is rising. The market has already broken 48.20 and may continue growing to reach 52.20. We think, today the price may form another ascending wave towards the local target at 51.30.
RoboForex Analytical Department
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