Analysis for November 19th, 2014
EUR USD, “Euro vs US Dollar”
Euro has formed another ascending impulse and right now is forming a consolidation channel at its top. We think, today the price may continue forming the channel and then leave it upwards to reach level of 1.2580. Later, in our opinion, the market may move downwards to test level of 1.2530 from above.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues moving downwards; the pair has broken a consolidation range downwards and may reach a new low. Later, in our opinion, the market may consolidate and form a reversal structure to return to level of 1.5765.
USD CHF, “US Dollar vs Swiss Franc”
Franc has formed another descending impulse and right now is forming a consolidation range at its top. We think, today the price may continue falling to reach level of 0.9545. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The next target is at level of 0.9430.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing. However, we should note that the market may start a fast descending movement without any corrections at any time. So far, the pair is expected to expand this trading range towards level of 118.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving inside a descending structure towards level of 0.8630. After reaching it, the pair may form an ascending structure towards level of 0.8750 and then start falling again to reach level of 0.8700.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still falling and forming short descending impulses. We think, today the price may reach a local target at level of 45.89. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The target is at level of 43.94.
XAU USD, “Gold vs US Dollar”
Gold has left its consolidation channel upwards. We think, today the price may continue growing to reach level of 1208 with an extension
. Later, in our opinion, the market may form the fourth wave of a correction towards level of 1178 and then the fifth one to reach level of 1223.
RoboForex Analytical Department