Analysis for September 2nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected with the target at 1.1355. After that, the pair may continue falling inside the downtrend. The target of this descending wave is at 1.1020. Later, in our opinion, the market may return to 1.1230.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is falling. We think, today, the price may reach 1.5240 (at least). The possible target of the last descending structure is at 1.4960. This decline without any corrections may be considered as the trend wave with the target at 1.4400.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving inside its consolidation channel without any particular direction. If the channel is broken upwards, the pair may grow to reach 0.9870; if downwards – we can expect only the correction towards 0.9481.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the downside target and broken the descending channel. We think, today, the price may form another ascending structure towards the top of the wave at 121.80. After that, the pair may form a continuation pattern and reach 124.04.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of another descending structure and right now is forming an ascending impulse. We think, today, the price may return to 0.7126 and then continue falling to reach 0.7050.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating without any particular direction. We think, today, the price may grow towards 67.30. If the pair breaks this level, it may expand the consolidation channel up to 69.00. If the channel is broken downwards, the market may start falling to reach 62.00.
XAU USD, “Gold vs US Dollar”
Gold is moving inside an ascending channel and has already reached the target of the wave. We think, today, the price may fall towards 1131 and then return to 1139. Later, in our opinion, the market may continue falling to reach 1110, thu8s completing the correction. After that, the instrument is expected to start another ascending wave with the target at 1215.
RoboForex Analytical Department