Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, XAU/USD
Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, XAU/USD
Analysis for May 19th, 2016
EURUSD, “Euro vs US Dollar”
We think, today the price may reach a new low. Later, in our opinion, the market may form another consolidation to start a new correction. The target of the correction is at 1.1400; the pair may to test it from below.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound continues growing and may reach 1.4641. After that, the pair may fall towards 1.4522 and then form another ascending structure with the target at 1.4715.
USDCHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is moving upwards. We think, today the price may reach 0.9940. After that, the pair may form another consolidation channel to start a new correction towards 0.9700.
USDJPY, “US Dollar vs Japanese Yen”
Yen has reached the target of the ascending extension. We think, today the price may grow to reach 110.80. After that, the pair may form another consolidation channel with a reversal pattern to continue the downtrend. The local target is at 104.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has broken its consolidation range downwards. Right now, the market is still falling towards the main target at 0.7140. After that, the pair may return to 0.7480.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving in the center of the consolidation range. We think, today the price may grow towards the upside border at 66.00 and then fall to reach the downside one.
XAUUSD, “Gold vs US Dollar”
Gold is forming the fifth descending structure with the target at 1248.50. We think, today the price may reach this level. Later, in our opinion, the market may start consolidating to form a new correction with the target at 1275.00.
