Analysis for November 16th, 2015
Eurodollar has tested the lower border of its consolidation channel; the pair has formed another descending structure. We think, today, the price may return to the center of the channel and then continue falling to reach a new low. The main scenario remains the same and suggests that the market may continue falling inside the downtrend to reach the target at 1.0300.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has reached the target of its ascending wave and formed the first descending impulse. We think, today, the price may break the minimum of this impulse and continue falling inside the downtrend. Today’s target is at 1.5111. After that, the instrument may consolidate for a while and then continue moving downwards to reach 1.5000.
USD CHF, “US Dollar vs Swiss Franc”Franc is expanding its consolidation channel upwards to reach 1.0107. After that, the instrument may test 1.0050 from above and then continue growing inside the uptrend towards the next target at 1.0185.
USD JPY, “US Dollar vs Japanese Yen”Yen is being corrected towards the target at 122.00. We think, today, the price may return to 122.80 and fall to reach the above-mentioned target. After that, the instrument may start forming the fifth ascending structure towards 124.70.
AUD USD, “Australian Dollar vs US Dollar”Being under pressure, Australian Dollar is moving downwards. The main scenario suggests that the market may complete the correction by growing to reach 0.7181. After that, the instrument may form another descending wave towards 0.7000.
USD RUB, “US Dollar vs Russian Ruble”Ruble is falling; the pair is expected to start another descending wave with the target at 60. After that, the instrument may test 64 from below and then continue falling inside the downtrend to reach 57.
XAU USD, “Gold vs US Dollar”Gold is attempting to expand its consolidation channel upwards. Possibly, the price may be corrected towards 1115. After that, the instrument may continue moving downwards to reach the target at 1015.
RoboForex Analytical Department
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