Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold
Analysis for May 13th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is moving close to 1.1390. We think, today the price may fall towards 1.1333 and then test 1.1390 from below. Later, in our opinion, the market may move downwards to reach 1.1300.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has completed the correction and right now is falling inside the downtrend. We think, today the price may break 1.4375. The target of this descending wave is at 1.4160.
USDCHF, “US Dollar vs Swiss Franc”
Franc has completed the correction as well. We think, today the price may continue growing towards 0.9744. After that, the pair may consolidate for a while, break the channel upwards, and then grow to reach 0.9788.
USDJPY, “US Dollar vs Japanese Yen”
Yen has rebounded from the upside border of the consolidation range. We think, today the price may move downwards to reach 108.00, break it, and then continue falling inside the downtrend with the target at 104.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming the third descending wave with the target at 0.7247. After that, the pair may return to 0.7480 and then continue falling inside the downtrend to reach 0.7128.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble has reached another new low. We think, today the price may continue falling towards 62.00. Later, in our opinion, the market may test 64.00 from below and then move downwards to reach 61.00.
XAUUSD, “Gold vs US Dollar”
Gold is forming the consolidation channel, which looks like the triangle. We think, today the price may test the upside border and then fall towards the downside one. After breaking it, the market may move towards the local target at 1245.