Analysis for August 5th, 2016
The EUR/USD pair is forming another consolidation range below 1.1155. Possibly, the price may be corrected towards 1.1190. The main scenario implies that the market may reach a new low and continue falling inside the downtrend to reach 1.1030.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”The GBP/USD pair is moving back to 1.3200 to test it from below. Later, according to the main scenario, the price may continue falling to reach 1.3060. After breaking it downwards, the market may continue falling towards 1.2800.
USD CHF, “US Dollar vs Swiss Franc”The USD/CHF pair is consolidating. We think, today the price may fall towards 0.9690. After that, the pair may move upwards to reach 0.9800.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair has completed the ascending correction. We think, today the price may fall to reach 100.40. Later, in our opinion, the market may be corrected with the target at 103.00 and then continue falling inside the downtrend 99.50.
AUD USD, “Australian Dollar vs US Dollar”Being under pressure, the AUD/USD pair is moving upwards. We think, today the price may reach 0.7630. In fact, the pair is forming the double top pattern. Later, in our opinion, the market may rebound downwards and fall towards reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”The USD/RUB pair is falling. We think, today the price may break 65.68 downwards. The local target of this wave is at 64.80. Later, in our opinion, the market may return to 65.68 to test it from below and then continue falling with the target at 63.00.
XAU USD, “Gold vs US Dollar”Being under pressure, Gold is moving upwards. We think, today the price may reach 1368 and then be corrected towards 1340. Later, in our opinion, the market may continue growing to reach the local target at 1425.
RoboForex Analytical Department
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