Analysis for October 27th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed two ascending impulses and the correctional structure. We think, today the price may form the third impulse towards 1.0950 to complete the correction. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1.0800.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is growing to reach 1.2333. After that, the instrument may fall towards 1.2200, thus forming another consolidation range. If later the price breaks this range upwards, it may grow to reach 1.2600; if downwards – continue falling inside the downtrend with the target at 1.0750.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has reached the closest target of the correction; so far, it has completed only three structures. After forming the fourth structure with the target at 0.9950, the price may form another descending structure towards 0.9895 to complete the flag
pattern. After that, the instrument may start growing to reach 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is growing. Possibly, the price may extend this wave to reach 105.20 and then fall to break 104.00. Later, in our opinion, the market may reach 103.00 and then return to 104.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another structure of its descending wave. We think, today the price may reach 0.7585 and then return to 0.7645. After that, the instrument may form another descending wave with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed the correction with the target at 62.95. We think, today the price may start consolidating. If later the price breaks this range upwards, it may grow to reach 63.60; if downwards – fall with the target at 62.20.
XAU USD, “Gold vs US Dollar”
Gold has returned into the consolidation range and right now is rebounding from the center. Possibly, the price may grow to break 1275 and then continue moving upwards to reach 1290. Later, in our opinion, the market may return to 1280.
Brent is still being corrected. We think, today the price may test 51.51 from below. After that, the instrument may fall to reach 50.56 and then grow towards 52.15.
RoboForex Analytical Department