Analysis for August 26th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is correcting the second descending impulse. We think, today the price may complete this correction at 1.1300 and then continue falling inside the downtrend to reach 1.1200. Later, in our opinion, the market may test 1.1250 from below.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming another descending impulse. After rebounding from 1.3216, the market is expected to fall towards 1.3000. After that, the instrument may form another consolidation channel, break it downwards, and then fall to reach the target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating. We think, today the price may break this consolidation range upwards and reach the local target at 0.9700. Later, in our opinion, the market may be corrected towards 0.9655 and then grow with the target at 0.9770.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still consolidating without any particular direction. In fact, the market is forming the triangle
pattern. Possibly, the price may be corrected upwards to reach 101.15. However, the main scenario implies that instrument may continue falling inside the downtrend. The next local target is at 98.00; the main downside target is at 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading close to 0.7616, which was earlier broken downwards. Possibly, the price may be corrected towards 0.7640. However, the main scenario implies that instrument may continue falling towards the next target at 0.7566.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still consolidating. If the price breaks this consolidation range upwards, it may test 65.70 from below; if downwards – reach 63.20.
XAU USD, “Gold vs US Dollar”
Gold is consolidating near the lows of its descending wave. We think, today the price may break this range upwards and reach 1342. After that, the instrument may form another consolidation range. The market is expected to move upwards to break 1357.
RoboForex Analytical Department