Analysis for August 19th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming the descending impulse. We think, today the price may form another structure towards 1.1283 and then return to 1.1320, thus forming a new consolidation range. If later the market breaks this range downwards, it may start another descending wave with the target at 1.1110; if upwards – reach 1.1370.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has almost completed the ascending correctional structure. We think, today the price may move according to the main scenario and break this ascending channel. After that, the instrument may continue falling towards the local target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has finished one more structure of the descending wave. We think, today the price may grow to reach 0.9600 and then return to 0.9570, thus forming another consolidation range. If later the market breaks this range upwards, it may start grow with the target at 0.9900; if downwards – reach another new low at 0.9520.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is rebounding from 100.40 downwards. The downtrend is expected to continue. Possibly, the price may break the triangle
pattern to the downside and reach 98.60. After that, the instrument may test 100.40 from below and then continue falling inside the downtrend to reach 98.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the fifth descending structure towards 0.7600. Later, in our opinion, the market may start a new correction to return to 0.7676.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still moving downwards and forming another consolidation range. If later the market breaks this range downwards, it may fall to reach 62.00; if upwards – start a new correction with the target at 64.50.
XAU USD, “Gold vs US Dollar”
Gold is moving above 1343 and forming another consolidation range. If later the market breaks this range upwards, it may reach 1368; if downwards – reach 1326. All these movements are going to take place inside the consolidation range on the daily chart.
RoboForex Analytical Department