Analysis for October 19th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is consolidating; the current decline may be considered as the correction with the target at 1.1300, at least. After that, the instrument may return to 1.1400 and then continue falling to reach 1.1140. An alternative scenario suggests that the pair may form the fifth structure of flag pattern towards 1.150 and then continue moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is consolidating as well; this channel may be considered as the start of the correction towards 1.5320. We think, today, the price may reach a new low and then continue falling inside the correction. Later (an alternative scenario), the pair may form another ascending structure towards 1.5550 and then continue falling inside the downtrend to break 1.5160.
USDCHF, “US Dollar vs Swiss Franc”
Franc is also consolidating; this channel may be considered as the start of the correction to return to 0.9630. Later (an alternative scenario), the pair may form another ascending structure towards 0.9420 and then continue growing inside the uptrend to reach 0.9870.
USDJPY, “US Dollar vs Japanese Yen”
Yen has returned to 119.50. Possibly, the price may reach 120.00. After that, the instrument may continue moving inside the downtrend. The next target is at 117.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating inside triangle pattern. We think, today, the price may fall to reach 0.7170 (at least) or even continue this correction towards 0.7070.
USDRUB, “US Dollar vs Russian Ruble”
Ruble continues forming the third descending wave with the target at 60.00. After reaching it, the price may start the correction towards 64.50 and then continue falling to reach the target at 57.00.
XAUUSD, “Gold vs US Dollar”
Gold is moving to break the previous ascending structure. We think, today, the price may form the correction to reach 1163.90 and then grow towards 1198.50. After that, the instrument may return to 1155.00 and then grow to reach 1220.00. This entire growth may be considered as an alternative to scenario to continue the correction. The main scenario remains the same – the market is expected to continue falling inside the downtrend.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.