Analysis for October 9th, 2015
Eurodollar is moving in the center of flag correctional pattern; the target of this correction is at 1.1330. Possibly, the pair may try to test 1.1363 from below once again. After that, the market may start forming another descending wave with the target at 1.1000.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is still moving inside the ascending channel, which may be considered as the correctional one. Possibly, the price may extend this structure towards 1.5460. However, the mains scenario implies that the market is expected to continue falling. The local target of this wave is at 1.4660.
USD CHF, “US Dollar vs Swiss Franc”Franc continues its descending correction towards 0.9590. After that, the market may return to 0.9720 and even continue growing to reach 0.9870.
USD JPY, “US Dollar vs Japanese Yen”Yen has returned to 120.00 and at the moment continues moving upwards. Possibly, the price may try to break the upper border of triangle pattern and continue growing towards 121.45. After that, the market may return to 120.50 again.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is extending its ascending structure. We think, today, the price may reach 0.7360 (this structure may be considered as the correction). After that, the market may continue falling towards 0.7150.
USD RUB, “US Dollar vs Russian Ruble”Ruble is forming the descending wave with the target at 60.00. After reaching this level, the price may return to 64.50 to test it from below. After that, the instrument may start forming the fifth descending structure to reach the target at 57.00. Thus, the market is expected to form the first wave inside the downtrend.
XAU USD, “Gold vs US Dollar”Gold is moving near the upper border of triangle pattern. If the price breaks 1154 upwards, it may move to reach 1178 as the third wave and even continue growing with the target at 1220. However, if this consolidation channel is broken downwards, the market may continue falling to reach 1125.
RoboForex Analytical Department
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