Analysis for May 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. Possibly, the price may test level of 1.1000 from below and then continue falling inside the downtrend. The next target is at the level of 1.0810. Later, in our opinion, the market may return to level of 1.1000 and then start another descending movement with the target at level of 1.0500.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming a descending wave with the target at level of 1.5120. We think, today, the price may break its consolidation channel downwards and continue falling to reach the local target of the first wave.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating. We think, today, the price may continue growing to reach level of 0.9610 and then fall towards level of 0.9462. Later, in our opinion, the market may start another ascending movement with the target at level of 0.9813.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues consolidating at the top of its ascending wave. Possibly, today the price may reach new highs. After breaking its ascending channel, the pair is expected to continue falling towards level of 120.84.
AUD USD, “Australian Dollar vs US Dollar”
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken level of 52.00. We think, today, the price may continue growing towards level of 55.50 and then start a correction to return to level of 51.00 and test it from above. Later, in our opinion, the market may resume growing to reach level of 58.50.
XAU USD, “Gold vs US Dollar”
Gold is forming another consolidation channel. If the price breaks it downwards, it may reach the target at level of 1178; if upwards – test level of 1198. Later, in our opinion, the market may continue falling to reach the lower border of the daily consolidation channel.
RoboForex Analytical Department