Analysis for September 27th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has almost completed its five-wave ascending structure and right now is forming a new descending impulse. We think, today the price may start forming another descending wave with the main target at 1.1100. The first target of this wave is at 1.1187. To reach this target, the market may form one more five-wave stricture.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating around 1.2936. According to the main scenario, the downtrend may continue towards the local target at 1.2800. After that, the instrument may be corrected towards 1.2940 to test it from below and then move downwards to reach 1.2650.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is rebounding from 0.9660 to the upside. The market has almost formed the inverted double top
pattern. The price is expected to grow towards 0.9800. The first target is at 0.9744.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is rebounding from 100.00. Possibly, the market may be corrected towards 101.40. However, the main scenario suggests that the instrument may fall to reach 99.40.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is moving upwards. Possibly, the price may reach 0.7680 and then form another consolidation range with a reversal pattern. Later, in our opinion, the market may continue falling inside the downtrend to reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving inside a very narrow consolidation range. Possibly, the price may be corrected towards 64.78. After that, the instrument may continue falling inside the downtrend to reach 63.00.
XAU USD, “Gold vs US Dollar”
Gold is forming another descending impulse at the top of the ascending wave. We think, today the price may grow towards 1344.80. Later, in our opinion, the market may break the low and fall to reach 1318.00. The instrument is expected to fall with the target at 1295.00.
Brent is being corrected. Possibly, the price may reach 48.33 and then complete the correctional wave by forming another descending structure with the target at 45.00. After that, the instrument may form another consolidation range with a reversal pattern. Later, in our opinion, the market may grow towards 52.20, at least.
RoboForex Analytical Department