Analysis for November 8th, 2016
The EUR/USD pair has broken 1.1065 downwards and right now is consolidating. Possibly, the price may continue falling inside the downtrend to reach 1.0970. Later, in our opinion, the market may be corrected to return to 1.1064.
EUR USD, “Euro vs US Dollar”
The GBP/USD pair is consolidating around f1.2417. If later the price breaks this range downwards, it may fall to reach 1.2276; if upwards – grow with the target at 1.2600.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair is moving inside a narrow consolidation range. If later the price breaks this range to the upside, it may reach 0.9860; if downwards – fall to reach 0.9680 again. After that, the instrument may start another ascending movement towards 1.0000.
USD CHF, “US Dollar vs Swiss Franc”
The USD/JPY pair is consolidating in the center of the range without any particular direction. We think, today the price may break the range downwards and continue falling inside the downtrend to reach 100.00. However, if the range is broken to the upside, the market may grow with the target at 106.00.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair has reached the target of another ascending wave. Possibly, today the price may be corrected to the downside to reach 0.7625.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair has completed the descending impulse and the correction. We think, today the price may continue falling towards 62.95.
USD RUB, “US Dollar vs Russian Ruble”
Gold has reached the closest target of the correction. We think, today the price may consolidate to return to 1295. If later the price breaks this range to the upside, it may grow to reach 1311; if to the downside – extend the correction towards 1268.
XAU USD, “Gold vs US Dollar”
Brent is rebounding from 46.00 to the upside. We think, today the price may continue forming the third structure with the target at 48.00. Later, in our opinion, the market may be corrected to reach 47.00.
RoboForex Analytical Department
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