Analysis for October 13th, 2016
The EUR/USD pair is forming the third descending wave. The local target is at 1.0963. After that, the instrument may be corrected upwards to reach 1.1083 and then continue falling to reach the target of this wave at 1.0885.
EUR USD, “Euro vs US Dollar”
The GBP/USD pair is forming the fifth structure of the flag correctional pattern. We think, today the price may reach 1.2065 and then start growing towards 1.2630. Later, in our opinion, the market may continue falling inside the downtrend to reach a new low.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair is consolidating. If the price breaks this consolidation range downwards, it may be corrected with the target at 0.9850; if upwards – grow to reach 0.9940.
USD CHF, “US Dollar vs Swiss Franc”
The USD/JPY pair has reached the target of its ascending wave and formed a new descending impulse. We think, the price may be corrected towards 104.10 (at least). After that, the instrument may start forming another descending wave with the first target at 102.40.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair is still moving downwards. We think, the price may reach 0.7512 and then test 0.7550 from below. Later, in our opinion, the market may continue falling to reach the target at 0.7474.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair has broken its consolidation range upwards. We think, today the price may grow towards 63.60. After that, the instrument may form another descending wave with the target at 61.30.
USD RUB, “US Dollar vs Russian Ruble”
Gold has broken the flag correctional pattern and right now is moving upwards. We think, today the price may form the third wave to reach 1280. Later, in our opinion, the market may return to 1265 and then continue growing with the target is at 1310.
XAU USD, “Gold vs US Dollar”
Being under pressure, Brent is falling; this decline may be considered as a correction with the target at 51.50. After that, the instrument may continue growing to reach 54.64.
RoboForex Analytical Department
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