Article By RoboForex.com
Analysis for September 22nd, 2016
EUR USD, “Euro vs US Dollar”
Being influenced by the news, the EUR/USD pair has almost completed the ascending correction towards 1.1220. We think, today the price may finish this correctional wave and then form another consolidation range with a reversal pattern. The instrument is expected to continue falling inside the downtrend towards 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has expanded its consolidation range upwards and formed the first ascending impulse. We think, today the price may fall to reach 1.2990. According to the main scenario, the market may continue forming this descending wave with the target at 1.2920. However, an alternative scenario suggests that the instrument may continue the current correction towards 1.3170.
USD CHF, “US Dollar vs Swiss Franc”
Being influenced by the news, the USD/CHF pair has broken its consolidation range downwards and almost completed the correction. We think, today the price may form another consolidation range and a reversal pattern. After that, the instrument may form one more ascending structure with the target at 0.9940.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is still falling. We think, today the price may form another consolidation range. If later the market breaks this range upwards, it may be corrected towards 101.70; if downwards – the downtrend will continue. The local target is at 98.00; the main one – at 96.00.
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AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is moving upwards. Possibly, the market may extend the current structure up to 0.7690 (an alternative scenario). According to the main scenario, the price may break the ascending channel and continue falling to reach 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of the descending structure and almost completed the flagcorrectional pattern. We think, today the price may consolidate. If later the market breaks this range upwards, it may grow to reach 66.00; if downwards – continue falling inside the downtrend with the target at 63.30.
XAU USD, “Gold vs US Dollar”
Being influenced by the news, Gold has broken its consolidation range upwards and reach the target of the correction. We think, today the price may form another consolidation range, break it downwards, and then continue falling inside the downtrend to reach 1295.
BRENT
Being influenced by the news, Brent has broken its consolidation range upwards and almost completed the correctional structure. We think, today the price may form another consolidation range. After breaking it downwards, the instrument may continue falling inside the downtrend with the target at 45.00.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
