Forex Technical Analysis 11.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
11.05.2016
Analysis for May 11th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving in the center of the consolidation channel without any particular direction. If the price breaks this consolidation channel downwards, it may reach 1.1300; if upwards – start a correction with the target at 1.5000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has rebounded from the center of the consolidation channel again. Later, in our opinion, the market may break the channel downwards to reach 1.4160. An alternative scenario implies that the pair may be corrected to expand the channel upwards to reach 1.4578.
USD CHF, “US Dollar vs Swiss Franc”
Franc is falling towards 0.9730 to test it from above. After that, the pair may grow towards 0.9774 and then return to 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
Yen has expanded its trading range upwards and almost completed the correction. We think, today the price may fall towards 107.15. Later, in our opinion, the market may form another consolidation channel and continue falling inside the downtrend to reach 104.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving upwards. We think, today the price may reach 0.7414. After that, the pair may fall towards the local target at 0.7425.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble hasn’t been able to stay above 66.80 and right now is moving inside a narrow consolidation range. The market is expected to grow towards 68.40.
XAU USD, “Gold vs US Dollar”
Gold is moving upwards. In fact, the market is being corrected with the target at 1280. Later, in our opinion, the price may fall towards 1245.
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.