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Forex Technical Analysis 21.09.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for September 21st, 2016

EUR USD, “Euro vs US Dollar”

Being under pressure, the EUR/USD pair continues falling. The market has broken another consolidation range downwards and right now is forming the fifth descending structure. We think, today the price may reach 1.1100. After that, the instrument may be corrected towards 1.1212.




GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, the GBP/USD pair is moving downwards as well. We think, today the price may reach 1.2920. Later, in our opinion, the market may form another descending wave with the local target at 1.2800.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still consolidating near 0.9800. We think, today the price may grow towards 0.9900. After that, the instrument may be corrected to return to 0.9800 and then resume growing to reach the main target at 0.9940.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the target of the descending wave and completed the correction. According to the main scenario, today the price may continue falling inside the downtrend to reach the next target at 100.00. However, an alternative scenario suggests that, being influenced by the fundamental background, the market may form one more ascending structure towards 104.45. After that, the instrument may continue falling inside the downtrend to reach the main downside target at 96.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still consolidating. If later the price breaks this range upwards (an alternative scenario), it may extend the correction towards 0.7600; if downwards – move according to the main scenario and reach 0.7400. Later, in our opinion, the market may continue falling inside the downtrend.




USD RUB, “US Dollar vs Russian Ruble”

Being under pressure, the USD/RUB pair is moving downwards. We think, today the price may reach 64.20 and then form another ascending structure towards 65.40 or even extend it up to 66.00. After that, the instrument may continue falling inside the downtrend to reach 63.00.




XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is moving upwards inside the consolidation range. Possibly, the price may be corrected towards 1324. Later, in our opinion, the market may continue falling inside the downtrend to reach the main target at 1295 and then start growing towards 1355.




BRENT

Brent is forming another consolidation range in the center of the fifth descending wave with the target at 45.00. We think, today the price may try to expand the range towards 47.60 and then continue falling to reach the above-mentioned target. After that, the instrument may start another ascending wave to reach 52.20 (at least).



 
RoboForex Analytical Department

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