Analysis for August 22nd, 2016
EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is falling. We think, today the price may reach 1.1234 and then be corrected towards 1.1300 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken its ascending channel and right now is falling and forming another descending wave towards 1.2942. And this is just a half of another wave. After that, the instrument may consolidate and continue falling towards the local target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming a new ascending impulse. We think, today the price may reach 0.9660 and then be corrected to return to 0.9600. Later, in our opinion, the market may break this consolidation range upwards and continue growing towards 0.9780.
USD JPY, “US Dollar vs Japanese Yen”
The market was opened with a gap up this morning and the USD/JPY pair is attempting to grow towards 100.90. However, the main scenario still implies that the downtrend is expected to continue to reach 99.00. After that, the instrument may try to return to 100.90 and then continue falling to reach the local target at 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the target of its descending wave and right now is consolidating; it has formed the structure with a new low, which means that the downtrend may yet continue. We think, today the price may be corrected towards 0.7676. If the market breaks 0.7560 downwards again, it may fall to reach the local target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving upwards. After breaking the descending channel, the market may be corrected towards 64.60. After that, the instrument may start another descending structure with the target at 62.00.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards; the price is expected to reach the target at 1326. We think, today the price may grow towards 1342, rebound downwards, and reach the above-mentioned target. This decline may be considered as a correction. Later, in our opinion, the market may grow to reach 1440.
RoboForex Analytical Department