Analysis for August 20th, 2015
Eurodollar has completed the correctional wave towards its previous decline. We think, today, the price may form another descending structure towards 1.0993. After that, the pair may test 1.1068 and then fall again to reach 1.0922.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is consolidating at the top of its ascending wave. The main scenario implies that the price may fall inside the downtrend towards 1.5240. An alternative scenario suggests that the market may form the correction towards 1.5624, break the consolidation channel, and continue growing to reach 1.5765.
USD CHF, “US Dollar vs Swiss Franc”Franc is being corrected towards 0.9620. After that, the market may resume growing and form an ascending wave to reach 1.0000.
USD JPY, “US Dollar vs Japanese Yen”Yen is consolidating inside the correctional structure. We think, today, the price may reach 123.60 and then test 124.15 from below. After that, the market may start another decline towards 123.00 and then form one more ascending structure to reach 125.45.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is falling towards 0.7309. After that, the market may form a correction to reach 0.7350 and then form another descending wave towards 0.7200. Later, in our opinion, the price may start a more serious correction with the target at 0.7555.
USD RUB, “US Dollar vs Russian Ruble”Ruble is moving upwards. We think, today, the price may return to 65.00. After that, when the oil market reaches new lows, the pair is expected to grow towards 67.10 and then fall to reach 63.00.
XAU USD, “Gold vs US Dollar”Gold has reached the target of its ascending wave. We think, today, the price may form another descending correction towards 1100 to test it from above. After reaching it, the price may form another ascending wave to reach 1161.
RoboForex Analytical Department
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