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Forex Technical Analysis 24.11.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Analysis for November 24th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair hasn’t been able to form another ascending impulse. The instrument has broken 1.0600 and right now consolidating around 10.550. This structure may be considered as a downside continuation pattern. The next target is at 1.0444.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has formed another ascending impulse, which may be considered as a correction. We think, today the price may fall to reach 1.2345. After breaking it to the downside, the instrument may form the third descending wave towards 1.2222.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still growing. Possibly, the market may form the ascending wave with the target at 1.0300.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has broken the consolidation range to the upside and right now is still growing towards 114.20. Later, in our opinion, the market may return to 112.50.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed the descending structure towards 0.7375. Taking into account that the USD continues strengthening, the pair may fall to reach 0.7314. Later, the price may reach 0.7160.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trying to form the five-wave structure with the target at 65.00. After that, the instrument may continue falling to reach 63.63.

XAU USD, “Gold vs US Dollar”; BRENT

Gold and Brent aren’t trading today due to Thanksgiving Day in the USA.

RoboForex Analytical Department

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