Analysis for May 12th, 2016
Eurodollar is expanding the consolidation channel upwards. We think, today the price may test 1.1407 from above and then grow to reach 1.1451, thus completing the correction. Later, in our opinion, the market may start forming another descending wave towards 1.1200.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is consolidating. We think, today the price may reach 1.4396 and then grow towards 1.4496, thus completing this consolidation channel. Later, in our opinion, the market may form another descending structure with the target at 1.4160.
USD CHF, “US Dollar vs Swiss Franc”Being under pressure, Franc is falling. We think, today the price may test 0.9720 from below. After that, the pair may fall towards 0.9687 and then grow to reach 0.9793.
USD JPY, “US Dollar vs Japanese Yen”Yen has completed the descending impulse and the correction. We think, today the price may reach 109.33 and then fall with the target at 107.00.
AUD USD, “Australian Dollar vs US Dollar”Being under pressure, Australian Dollar is moving downwards. We think, today the price may continue falling inside the downtrend to reach 0.7250.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble hasn’t been able to break 66.80 and right now is still falling. We think, today the price may break this consolidation range downwards. The market is expected to reach 62.13.
XAU USD, “Gold vs US Dollar”Gold has expanded its consolidation range upwards. We think, today the price may move according to an alternative scenario, which implies that it may rebound from 1270 and then moving upwards to reach 1286. Later, in our opinion, the price may continue falling inside the downtrend towards 1245.
RoboForex Analytical Department
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