Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD
Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD
Analysis for May 27th, 2016
EURUSD, "Euro vs US Dollar"
Eurodollar has completed the first ascending wave as a correction and is expected to continue falling to reach 1.1100. We think, today the price may choose an alternative scenario and continue growing, by now, the market has already rebounded from 1.1168. After breaking the top of the first ascending impulse, the pair may continue the correction to reach 1.1275.
GBPUSD, "Great Britain Pound vs US Dollar"
Pound is correcting the yesterday's ascending movement. Possibly, the price may fall towards 1.4612. After that, the pair may form one more ascending structure with the target at 1.4782.
USDCHF, "US Dollar vs Swiss Franc"
Franc is consolidating; the market has specified the downside border of this range. We think, today the price may grow to reach 0.9944. An alternative scenario suggests that the pair may expand the range downwards and continue the correction towards 0.9820.
USDJPY, "US Dollar vs Japanese Yen"
Yen is moving inside the triangle consolidation pattern. We think, today the price may continue falling inside the downtrend to reach 104.00. An alternative scenario suggests that the pair may grow to reach 111.30 in case the regulator interferes.
AUDUSD, "Australian Dollar vs US Dollar"
Australian Dollar has returned to 0.7242. We think, today the price may fall towards 0.7195 and then try to for another ascending structure with the target at 0.7260. Later, in our opinion, the market may continue falling to reach 0.7130.
USDRUB, "US Dollar vs Russian Ruble"
We think, today Russian Ruble may form another ascending structure towards 67.50, which may only considered as a correction. Later, in our opinion, the market may fall again to reach 63.20 and then start a higher correction with the target at 69.00.
XAUUSD, "Gold vs US Dollar"
Gold is still consolidating near its lows. We think, today the price may grow in case it breaks the channel upwards. The target is at 1251. However, if the market breaks the channel downwards, it is expected to continue falling towards 1200.
