Analysis for November 16th, 2016
The EUR/USD pair is trading in the center of the consolidation range; it hasn’t been able to rebound from 1.0755 and start growing at once. We think, today the price may continue consolidating inside the current range: grow towards 1.0816, fall to reach 1.0755, and then move upwards with the target at 1.0820. If later the market breaks this range to the upside, the ascending correction may continue to reach 1.0900; if to the downside – continue falling inside the downtrend with the target at 1.0600.
EUR USD, “Euro vs US Dollar”
The GBP/USD pair has extended the first descending wave. We think, today the price may grow to reach 1.2525. After that, the instrument may fall towards 1.2345. After breaking this level, the instrument may continue falling inside the downtrend with the target at 1.2060.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair has reached the target of another ascending structure and right now is forming the descending impulse towards 0.9920. After that, the instrument may grow to reach 1.0120 and then start another correction with the target at 0.9920.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/JPY pair is moving upwards. Possibly, the price may continue extending this wave towards 110.60. Later, in our opinion, the market may fall to reach 106.00.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair is consolidating in the center of the range. We think, today the price may fall towards 0.7425. Later, in our opinion, the market may move upwards to reach 0.7580 and then fall with the target at 0.7380.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair is still forming the descending wave towards 63.64. After that, the instrument may start growing to reach 65.00.
USD RUB, “US Dollar vs Russian Ruble”
Gold is consolidating. We think, today the price may grow towards 1236 and then reach a new low at 1208. Later, in our opinion, the market may start another growth with the target at 1273.
XAU USD, “Gold vs US Dollar”
Brent has reached another upside target. We think, today the price may rebound from 48.00 and start another correction towards 46.00, thus expanding this consolidation range to the upside and forming the divergent triangle pattern. If later the market breaks this range to the downside, it may fall towards 40.50; if to the upside – may continue growing towards 51.25.
RoboForex Analytical Department
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