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Forex Technical Analysis 18.08.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for August 18th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair hasn’t been able to continue the descending wave and right now is moving upwards. We think, today the price may reach 1.1348 and then fall towards 1.1235, thus forming another consolidation range. After breaking this range downwards, the market is expected to move according to the main scenario and continue falling inside the downtrend to reach 1.1070.




GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, the GBP/USD pair is moving upwards. We think, today the price may reach 1.3090. After that, the instrument may move according to the main scenario and continue falling inside the downtrend towards the local target at 1.2800.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair hasn’t been able to continue the ascending impulse. We think, today the price may reach 0.9580 and then return to upside border of the consolidation range. Later, in our opinion, the market may break the range upwards and move according to the main scenario, which implies that the instrument is expected to continue growing inside the uptrend towards 0.9922.




USD JPY, “US Dollar vs Japanese Yen”

Being under pressure, the USD/JPY pair is falling. We think, today the price may reach 99.12 and then form another ascending structure towards 100.87. After that, the instrument may form reach 98.00 and then continue falling inside the downtrend towards the main target at 96.00.




AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, the AUD/USD pair is moving upwards. We think, today the price may reach 0.7720 in the fourth wave. Later, in our opinion, the market may fall in the fifth wave with the target at 0.7599 and then start a new correction to return to 0.7677.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still moving downwards. We think, today the price may reach 63.50. Later, in our opinion, the market may be corrected towards 64.60 and then fall with the target at 62.00.




XAU USD, “Gold vs US Dollar”

Gold hasn’t been able to fix below 1343 as the market has broken 1350 upwards again and right now may grow to reach the next target at 1367. This movement is taking place inside a wide consolidation range and the chances of reaching the low at 1326 or the high at 1367 are fifty-fifty. The main scenario suggests that the instrument may break the range upwards and reach 1440.



 
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