Forex Technical Analysis 08.11.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
08.11.2016
Analysis for November 8th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken 1.1065 downwards and right now is consolidating. Possibly, the price may continue falling inside the downtrend to reach 1.0970. Later, in our opinion, the market may be corrected to return to 1.1064.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating around f1.2417. If later the price breaks this range downwards, it may fall to reach 1.2276; if upwards – grow with the target at 1.2600.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is moving inside a narrow consolidation range. If later the price breaks this range to the upside, it may reach 0.9860; if downwards – fall to reach 0.9680 again. After that, the instrument may start another ascending movement towards 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating in the center of the range without any particular direction. We think, today the price may break the range downwards and continue falling inside the downtrend to reach 100.00. However, if the range is broken to the upside, the market may grow with the target at 106.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the target of another ascending wave. Possibly, today the price may be corrected to the downside to reach 0.7625.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed the descending impulse and the correction. We think, today the price may continue falling towards 62.95.
XAU USD, “Gold vs US Dollar”
Gold has reached the closest target of the correction. We think, today the price may consolidate to return to 1295. If later the price breaks this range to the upside, it may grow to reach 1311; if to the downside – extend the correction towards 1268.
BRENT
Brent is rebounding from 46.00 to the upside. We think, today the price may continue forming the third structure with the target at 48.00. Later, in our opinion, the market may be corrected to reach 47.00.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.