Analysis for September 20th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has expanded its consolidation range upwards and then moved back. We think, today the price may form another ascending structure towards 1.1200. After that, the instrument may move to break the low of the range and then continue falling inside the downtrend to reach 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating. If the market breaks this range upwards today, it may be corrected with the target at 1.3240; if downwards – reach 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating near 0.9800. If later the market breaks this range upwards, it may continue growing to reach 0.9940; if downwards – form another correction with the target at 0.9750.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is falling towards 101.40, and it’s just a half of this wave. After that, the instrument may form another consolidation range, break it downwards, and reach the local target at 98.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has almost completed the correctional structure. We think, today the price may form another descending wave towards the downside border of the consolidation range. Possibly, it may be extended up to 0.7420.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is moving downwards. We think, today the price may return to 64.80 and then form another descending structure towards 64.20. Later, in our opinion, the market may grow to reach 65.40.
XAU USD, “Gold vs US Dollar”
Gold is consolidating. We think, today the price may fall towards the downside border of the range, break it, and reach 1295, thus completing the current descending wave. Later, in our opinion, the market may start growing with the first target at 1322.
RoboForex Analytical Department