Analysis for October 30th, 2014
EURUSD, “Euro vs US Dollar”
Being influenced by the fundamental background, Euro has started forming another descending structure. We think, today the price may continue forming flag pattern with the target at level of 1.2570. Later, in our opinion, the market may consolidate and form a reversal pattern to continue forming an ascending wave. The first target is at 1.2930.
GBPUSD, “Great Britain Pound vs US Dollar”
Being influenced by the fundamental background, Pound has started falling. We think, today the price may reach level of 1.5950. Later, in our opinion, the market may consolidate and form a reversal structure for a new ascending wave towards level of 1.6200.
USDCHF, “US Dollar vs Swiss Franc”
Being influenced by the fundamental background, Franc is still forming flag pattern. We think, today the price may reach level of 0.9590. Later, in our opinion, the market may consolidate and form a reversal pattern. The pair is expected to start forming another wave inside the downtrend. The first target is at level of 0.9350.
USDJPY, “US Dollar vs Japanese Yen”
Being influenced by the fundamental background, Yen has broken its consolidation range upwards. We think, today the price may reach level of 109.24. Later, in our opinion, the market may consolidate and form a reversal pattern to continue moving inside the downtrend. The first target is at level of 105.00.
AUDUSD, “Australian Dollar vs US Dollar”
Being influenced by the fundamental background, Australian Dollar has fallen and reached level 0.8767. We think, today the price consolidate and form a reversal pattern. The pair is expected to form another ascending structure with the target at 0.8910.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside an ascending structure. We think, today the price may reach level of 43.33 and then form a new consolidation channel. The pair is expected to fall towards level of 42.00 and then start another ascending movement with the target at level of 43.53.
XAUUSD, “Gold vs US Dollar”
Being influenced by the fundamental background, Gold has broken its consolidating channel downwards and right now is forming a descending structure with the target at 1202.60. Later, in our opinion, the market may consolidate and form a reversal pattern. The instrument is expected to grow to reach the target at level of 1260.00.
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