Analysis for August 29th, 2014
EUR USD, “Euro vs US Dollar”
Euro completed an ascending structure and corrected it. We think, today the price may form the second ascending structure to reach level of 1.3300 and then return towards level of 1.3220. Later, in our opinion, the market may start another ascending movement.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating. If the price breaks this consolidation channel upwards, the pair may start a correction towards level of 1.6660; if downwards – the market may fall and reach level of 1.6460.
USD CHF, “US Dollar vs Swiss Franc”
Franc finished a descending impulse and corrected it. We think, today the price may continue falling and form another descending wave to break the minimum of the first impulse. The market is expected to reach level of 0.9100.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming the second descending wave. We think, today the price may break the minimum and fall towards level of 103.30. Later, in our opinion, the market may move upwards to return to level of 103.60.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues falling to reach level of 0.9300. After reaching it, the price may return to level of 0.9340 and then continue forming an ascending wave with the target at level of 0.9510. Alternative scenario implies that the market may fall to reach a new low and continue this correction towards level of 0.9150.
USD RUB, “US Dollar vs Russian Ruble”
Ruble broke its consolidation channel upwards and right now is expanding it towards level of 36.90. Later, in our opinion, the market may start forming another descending wave with the target at level of 34.70.
XAU USD, “Gold vs US Dollar”
Gold completed an ascending structure and the whole correction. We think, today the price may form another descending wave with the target at level of 1260.
RoboForex Analytical Department