Analysis for October 15th, 2015
Eurodollar has expanded its consolidation channel upwards. We think, today, the price may be corrected to test 1.1374 from above and then grow to reach 1.1572. The market is expected to continue extending the correction.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has extended its ascending wave. We think, today, the price may fall to test 1.5312 from above and then form another ascending structure to reach 1.5520. Later, in our opinion, the pair may continue falling inside the downtrend to break 1.5165.
USD CHF, “US Dollar vs Swiss Franc”Franc has extended its correction and reached the local target. We think, today, the price may return to 0.9632 to test it from below. After that, the market may form another descending structure with the target at 0.9420 and then continue growing inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”Yen has reached the target of its descending structure. Possibly, today the price may be corrected towards 119.46 and then resume falling to reach 118.30. The main scenario for this currency pair implies that it may continue moving inside the downtrend to reach 115.00. The market may reach this level either without forming any ascending corrections at all, or with truncated ones.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has finished both the descending wave and the ascending correction. We think, today, the price may form another structure to continue the correction to reach 0.7150 (at least) or even 0.7060. Later, in our opinion, the pair may return to 0.7205.
USD RUB, “US Dollar vs Russian Ruble”Ruble is still moving downwards. Possibly, the price may reach 60.00 and then start the correction towards 64.50 to test it from below. After that, the instrument may continue falling to reach the target of the first wave inside the downtrend at 57.00.
XAU USD, “Gold vs US Dollar”Gold is forming the third wave of the ascending correction; the market has extended the third structure of this wave. We think, today, the price may return to 1155.25 to test it from above and then continue growing towards 1205.
RoboForex Analytical Department
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