Analysis for October 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside the narrow consolidation channel at the top of flag correctional pattern. The main scenario implies that the price may fall to reach 1.1274, grow to test 1.1340 from below, and then continue falling inside the downtrend towards 1.1000. An alternative scenario suggests that the pair may grow to expand the channel towards 1.1410 and after that continue moving inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating. The main scenario implies that the price may break this channel and continue falling inside the downtrend to break 1.5165. The main target of the wave is at 1.4660. An alternative scenario suggests that the pair may try to expand the channel towards 1.5462 and after that continue moving downwards.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside a large consolidation channel. The main scenario implies that the price may continue growing to reach 0.9870. An alternative scenario suggests that the pair may expand the channel downwards to reach 0.9546. After that, the price may continue moving upwards.
USD JPY, “US Dollar vs Japanese Yen”
Being under influence, Yen is falling towards triangle’s lower border. The main scenario implies that the price may continue falling towards 118.75. An alternative scenario suggests that the market may rebound from the border and move upwards to reach 120.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the descending impulse with the target at 0.7150, which may be considered as the fourth wave. Later, in our opinion, the pair may form the fifth wave towards 0.7400 and then continue falling inside the downtrend to reach 0.6600.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving without any corrections to break 61.00 downwards. We think, today, the price may grow to return to 63.70 (the correction) and then fall to reach the local target at 60.00. After that, the instrument may start another growth towards 64.50 as the fourth wave.
XAU USD, “Gold vs US Dollar”
Gold is forming the ascending structure with the target at 1178, which may be considered as the third wave inside the uptrend. Later, the market may fall to reach 1150 and then continue growing towards 1220. After that, the instrument may start a new correction to return to test 1150.
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 clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.