Analysis for May 14th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its consolidation channel upwards and may continue forming the third ascending wave. The target is at level of 1.1800. After reaching it, the market may start a correction to return to level of 1.1200.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still moving upwards; the target is at level of 1.5800. We think, today, the price may reach this level, then start consolidating and form a reversal pattern for a new descending movement with the target at level of 1.5100.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming the third descending wave. The target is at level of 0.8870. Possibly, the market may reach its local target at level of 0.9010 and then start a correction to return to level of 0.9360. Later, in our opinion, the market may continue falling towards the main target.
USD JPY, “US Dollar vs Japanese Yen”
Yen has broken level of 119.00 downwards. We think, today, the price may test this level from below and then continue falling towards level of 117.86. After that, the pair may return to level of 119.00 to test it from below again and then start another descending movement towards level of 117.44.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of its ascending wave. We think, today, the price may form a consolidation channel. The market is expected to start a correction to return to level of 0.7815.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken level of 49.00 downwards. We think, today, the price may return to level of 5040 and then fall to reach level of 46.00. After that, the pair may test level of 49.00 from below. Possibly, the market may form another descending structure with the target at level of 44.00.
XAU USD, “Gold vs US Dollar”
Gold continues growing. The market is expected to form another ascending wave to test level of 1250 from below. This wave may be considered as the third one with the local target at level of 1240.
RoboForex Analytical Department