Article By RoboForex.com
Analysis for September 26th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating. We think, today the price may continue falling inside the downtrend to reach 1.1100. However, an alternative scenario suggests that the instrument may form another ascending structure with the target at 1.1270. Later, in our opinion, the downtrend may continue.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is rebounding from the downside border of the triangle pattern. Possibly, the price may be corrected towards 1.3015. After that, the instrument may continue falling inside the downtrend to reach the local target at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has formed the ascending impulse and the correction. We think, today the price may grow according to the main scenario. The next target is at 0.9797. However, an alternative scenario suggests that the instrument may fall towards 0.9600. Later, in our opinion, the market may continue growing with the target at 0.9940.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving in a very narrow trading range. According to the main scenario, the market may fall. If later the market breaks the low, it may reach 98.00; if the range is broken upwards – grow with the target at 101.70.
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AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming another descending impulse. We think, today the price may reach 0.7580 and then be corrected towards 0.7630, thus defining the borders of another consolidation range. If later the market breaks this range downwards, it may continue falling inside the downtrend to reach 0.7400; if upwards – form the double top pattern.
USD RUB, “US Dollar vs Russian Ruble”
Following the fast decline of the oil prices, the USD/RUB pair is moving upwards. We think, today the price may continue growing to reach 64.50 or even extend this structure towards 66.00. Later, according to the main scenario, the market may continue falling inside the downtrend to reach 63.00.
XAU USD, “Gold vs US Dollar”
Gold is forming another descending impulse at the top of the ascending wave. We think, today the price may break the low and fall towards 1318. Possibly, the market may form the wave with the target at 1295.
BRENT
Brent is forming the fifth descending wave. We think, today the price may reach 45.00 and complete the correctional wave. After that, the instrument may form another consolidation range with a reversal pattern. Later, in our opinion, the market may grow towards 52.20, at least.
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.
