Analysis for May 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues forming its descending structure with the target at level of 1.0810. After reaching it, the price may form a correction towards level of 1.1000 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend towards level of 1.0523.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming another descending wave. We think, today, the price may reach level of 1.5399. After that, the pair may form another consolidation channel, break it downwards, and then reach level of 1.5120.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached its closest upside target and may continue forming this structure and extend it towards level of 0.9682.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached its upside targets and level of 122.30. We think, today, the price may consolidate for a while, form a reversal pattern, and then start a new descending trend.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating near its lows without any impulses for a reverse. Such scenario implies that the market may reach new lows and then continue falling towards level of 0.7500. However, an alternative scenario suggests that the market may start a correction towards level of 0.7990.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating near level of 50.50. If the price breaks this consolidation channel upwards, the correction may continue up to level of 58.50; if downwards – reach level of 46.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. If the price breaks the channel downwards, it may continue falling inside the downtrend towards level of 1178; if upwards (an alternative scenario) – grow towards level of 1210.
RoboForex Analytical Department