Analysis for September 30th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving in the center of another consolidation range. We think, today the price may fall to break 1.1187 and then continue moving to reach the local target at 1.1125. Later, in our opinion, the market may test 1.1187 from below and then continue falling with the target at 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is falling. We think, today the price may test 1.2987 from below. After that, the instrument may continue falling inside the downtrend to reach the local target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has expanded its consolidation range downwards and almost completed another correctional wave. We think, today the price may break the correctional channel and form another consolidation range. The market is expected to form a new ascending wave towards 0.9940. The first target is at 0.9720.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving to rebound from 101.70. According to the main scenario, the price may continue falling inside the downtrend to reach 98.00. However, an alternative scenario suggests that the market may grow to reach 101.982 and after that continue moving downwards.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another descending impulse with the target at 0.7588. Later, in our opinion, the market may be corrected towards 0.7645 and then continue falling inside the downtrend to reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is falling. We think, today the price may test 63.73 from below and then continue moving downwards to reach 61.40.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is growing. Possibly, the price may form a correctional structure towards 1331. After that, the instrument may fall to reach 1311. The main downside target is at 1295.
Brent is consolidating. If later the market breaks this consolidation range downwards, it may be corrected with the target at 48.00; if upwards – continue growing to reach the local target at 51.20.
RoboForex Analytical Department