Analysis for October 20th, 2016
Being under pressure, the EUR/USD pair is falling. We think, today the price may reach 1.0950. After that, the instrument may be corrected towards 1.1000 and then continue falling inside the downtrend to reach the local target at 1.0800.
EUR USD, “Euro vs US Dollar”
The GBP/USD pair is consolidating without any particular direction. We think, today the price may reach 1.2222 and then start growing return to 1.2600.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair has broken its consolidation range upwards and right now is growing to reach 0.9940. Later, in our opinion, the market may from another consolidation range. If later the market breaks this range upwards, it may continue growing inside the uptrend with the target at 1.0300; if downwards - be corrected towards 0.9800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/JPY pair has reached the target of its descending wave. We think, today the price may reach 103.77 (at least) or even 103.99. Later, in our opinion, the market may continue falling inside the downtrend to reach 102.00.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair has reached the target of its ascending wave and right now is falling. We think, today the price may reach the first target at 0.7600. The main target of this wave is at 0.7474.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair has reached the first target of another descending structure. Possibly, today the price may return to 62.90 to test it from below. After that, the instrument may continue falling to reach the local target at 61.30.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Gold is growing and forming a narrow consolidation range. We think, the price may break the range upwards and reach the local target at 1290.
XAU USD, “Gold vs US Dollar”
Brent is forming another ascending structure to reach the target at 54.64. We think, today the price may be corrected towards 52.70 and continue growing to reach the above-mentioned target.
RoboForex Analytical Department
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