Analysis for October 28th , 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has expanded the second impulse upwards and then corrected it. We think, today, the price may form another impulse towards 1.1090, complete the correction and then fall towards 1.1040 to test it from above. Thus, the market defines the borders of another consolidation channel. If later the pair breaks this consolidation downwards, it may continue falling inside the downtrend according to the main scenario. The next target will be at 1.0954. If the channel is broken upwards – the correction may continue to reach 1.1133.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has renewed the minimum of its descending structure. We think, today, the price may continue falling towards 1.5240, return to 1.5316, and then move downwards again to reach 1.5214. After that, the instrument may be corrected towards 1.5300. The main scenario suggests that the market may continue falling inside the downtrend with the target at 1.4660. All attempts to grow will be considered as an alternative scenario to start a new correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached its upside target, but this ascending structure may yet continue. We think, today, the price may reach 0.9900 and then fall towards 0.9840. After that, the instrument may move upwards again to reach 0.9950.
USD JPY, “US Dollar vs Japanese Yen”
Yen is being corrected towards 120.64. After reaching it, the pair may fall towards 119.80 and then from another correction to reach 120.64. After that, the instrument may continue falling inside the downtrend towards 119.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the minimum target of the correction and even formed an extension. Moreover, this structure may yet continue. We think, today, the price may return to 0.7189 to test it from below and then form another descending structure to reach 0.7085.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure because of the oil prices decline, Ruble is moving upwards. We think, today, the price may return to 63 to test it from above and then form another ascending structure with the target at 67. After that, the instrument may start falling inside the downtrend to reach 60.
XAU USD, “Gold vs US Dollar”
Gold is moving upwards. We think, today, the price may test 1172.85 and then continue falling towards 1155.00, thus completing the correction. After that, the instrument may start growing to reach 1206.00.
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