Analysis for May 15th, 2015
EUR USD, “Euro vs US Dollar”
After reaching another top, Eurodollar hasn’t been able to continue growing; right now the pair is consolidating at the top. We think, today, the price may expand this trading range downwards to reach level of 1.1242. Later, in our opinion, the market may try to grow and reach a new high at level of 1.1800 (this ascending movement is considered as an alternative scenario).
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the target of its ascending wave and completed it; the downtrend towards level of 1.4400 is expected to continue. We think, today, the price may form a consolidation channel and a reversal pattern. The first downside target is at level of 1.5440.
USD CHF, “US Dollar vs Swiss Franc”
After finishing another descending structure towards the lower border of its trading range, Franc has started consolidating. If the price breaks this consolidation channel downwards, it may continue falling towards level of 0.9010; if upwards – return to level of 0.9280. After that, the pair may continue moving downwards to reach the target at 0.8870.
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a consolidation channel and broken it upwards. We think, today, the price may reach level of 119.80 and then fall again towards level of 119.00. If later the pair breaks it, the market may continue falling towards level of 117.85.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the minimum of the first descending impulse and right now is forming a continuation pattern We think, today, the price may reach level of 0.7986 and then return to level of 0.8060. After that, the pair may continue the correction towards level of 0.7815.
USD RUB, “US Dollar vs Russian Ruble”
Being influenced by fundamental background, Ruble is returning to level of 50.50. We think, today, the price may reach it and then resume falling towards level of 46.00. However, an alternative scenario implies that the pair may form a more serious correction with the target at level of 58.50.
XAU USD, “Gold vs US Dollar”
After finishing another ascending impulse, Gold is consolidating. If the price breaks its consolidation channel downwards, it may form a correction towards level of 1202; if upwards – form the third ascending wave to reach level of 1250.
RoboForex Analytical Department