Analysis for October 6th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming a new consolidation right in the center of the triangle
pattern. If later the market breaks this range downwards, it may continue falling inside the downtrend to reach 1.1100; if upwards – grow with the target at 1.1260 (an alternative scenario).
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating inside the descending channel. If later the market breaks this range upwards, it may be corrected to reach 1.2920; if downwards – continue falling with the target at 1.2650.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating as well. If later the price breaks this range downwards, it may be corrected to reach 0.9720; if upwards – form another ascending wave with the target at 0.9940.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is still moving upwards. We think, today the price may reach 103.80. Later, in our opinion, the market may fall with the target at 102.20.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is moving downwards. We think, today the price may reach 0.7500 and then test 0.7590 from below.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating without any particular direction. If later the market breaks this consolidation range upwards, it may be corrected to reach 63.45; if downwards – continue falling inside the downtrend with the target at 61.04.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards and forming another consolidation range. Possibly, the price may fall to reach 1255. After that, the instrument maybe corrected to return to 1310.
Brent has reached the target of the fifth ascending wave. We think, today the price may form another consolidation range. If later the market breaks this range downwards, it may be corrected towards 50.42; if upwards – grow with the target at 52.98.
RoboForex Analytical Department