Analysis for August 25th, 2015
Following the stock market meltdown, Eurodollar continues moving upwards. The pair has started forming descending impulses. We think, the price may form a correction towards 1.1370. However, the stock market is still falling, that’s why instead of the correction the market may form a consolidation channel and then continue growing to reach 1.2214.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has broken its consolidation channel upwards and is expected to reach 1.5823. We think, today, the price may test 1.5712 from above and then continue growing to reach the target of this wave.
USD CHF, “US Dollar vs Swiss Franc”Franc is attempting to form a correction towards 0.9550. However, taking into account the situation on the stock market, instead of the correction the pair may form only a consolidation channel, break it downwards, and then continue falling inside the downtrend. After breaking triangle pattern downwards, the pair is expected to reach 0.8813.
USD JPY, “US Dollar vs Japanese Yen”Yen is trying to form a correction towards 120.70. After that, the pair may continue falling inside the downtrend to reach 115.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is being corrected towards 0.7320 to test it from below. After that, the pair may continue falling to reach 0.6946.
USD RUB, “US Dollar vs Russian Ruble”Today, Ruble may start forming descending impulses. The pair is expected to form a new descending wave with the target at 52.50.
XAU USD, “Gold vs US Dollar”Gold is still consolidating at the top of its ascending wave and forming divergent triangle pattern. Possibly, the price may reach 1110, break the top, and then continue growing towards 1200.
RoboForex Analytical Department
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