Analysis for October 8th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving in the center of flag
correctional pattern; the pair is trying to continue growing towards 1.1322. We think, today, the price may fall to reach 1.1142 as the fourth wave of this correction and then complete this correction by reaching 1.1322. After that, the market may continue falling inside the downtrend. The main target is at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the local target of the correction. We think, today, the price may fall towards 1.5230 to test it from above and then grow to reach 1.5353. Later, in our opinion, the instrument may continue falling inside the downtrend. The main target of this wave is at 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc is consolidating. The main scenario implies that the pair may continue growing towards 0.9870. An alternative scenario suggests that the price may break the consolidation channel downwards and extend it towards 0.9560.
USD JPY, “US Dollar vs Japanese Yen”
Yen is falling towards the lower border of triangle
pattern. We think, today, the price may break the border and continue moving inside the downtrend towards 115.00. The first downside target is at 118.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of its ascending wave. We think, today, the price may form another correction towards 0.7070. After that, the market may form another consolidation channel.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming the descending wave towards 62.00. After reaching this level, the price may return to 64.50 to test it from below. After that, the instrument may resume falling to reach the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is moving in the center of the consolidation channel. We think, today, the price may continue growing to 1160. An alternative scenario suggests that the price may form another correction towards 1127.
RoboForex Analytical Department