Analysis for November 19th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has returned to the center of the consolidation channel. We think, today, the price may continue moving downwards to reach new lows. The main scenario suggests that the pair may continue falling inside the downtrend to reach 1.0500.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has expanded its consolidation channel upwards and completed another ascending structure. We think, today, the price may fall towards the lower border of the channel. After breaking the minimums, the instrument may continue falling inside the downtrend towards 1.4848.
USDCHF, “US Dollar vs Swiss Franc”
Franc is extending its ascending structure. We think, today, the price may reach 1.0250 and then form another consolidation channel. After that, the instrument may break the channel upwards to continue growing and reach 1.0400.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still consolidating at the top of its ascending structure. We think, today, the price may reach 123.84 once again and then start the correction with the target at 122.00. After that, the instrument may form another ascending structure, the fifth one, to reach 125.30.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is growing towards 0.7178. We think, today, the price may break the current maximum and then start forming another descending wave with the target at 0.7000. After that, the instrument may grow towards 0.7398.
USDRUB, “US Dollar vs Russian Ruble”
Ruble has completed the first structure of its descending wave. We think, today, the price may be slightly corrected towards 65.75 to test it from below and then start another descending structure to reach 63.60. After that, the instrument may test 64.80 from below and then continue falling inside the downtrend.
XAUUSD, “Gold vs US Dollar”
Gold is growing towards 1080 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach 1050. After that, the instrument may consolidate for a while and then fall to reach 1015.
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 edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.