Article By RoboForex.com
Analysis for November 29th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming the fourth correctional structure; it has already reached the closest target of this correction. We think, today the price may return to 1.0552 and then form the fifth structure to reach 1.0700.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still trading around 1.2444. We think, today the price may form another ascending structure with the target at 1.2590. Later, in our opinion, the market may start falling to reach 1.2343.
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USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the ascending structure as the fourth part of the descending wave. We think, today the price may fall and form the fifth structure with the target at 1.0070. After that, the instrument may start another correction to reach 1.0133.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has finished the fourth structure of the descending wave with the target at 110.77. Possibly, today the market may form the fifth structure of this wave. Later, in our opinion, the market may be corrected to reach 112.55.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the third ascending wave with the target at 0.7500. Later, in our opinion, the market may return to 0.7433 (at least) and then form the fifth structure, an ascending one, towards 0.7550.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken its ascending channel. We think, today the price may continue falling to reach 63.63 and then start consolidating again. After breaking this consolidation range downwards, the instrument may reach 61.75. However, considering that the oil prices are still falling, the market may grow to reach 65.00 and then resume falling inside the downtrend.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is growing. We think, today the price may reach 1212. After that, the instrument may move downwards with the target at 1190 and then resume growing towards 1236.
BRENT
Brent is being corrected. Possibly, today the market may reach 47.30 and then form another ascending structure with the target at 51.50.
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.
