Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|Analysis for September 28th, 2016
EURUSD, “Euro vs US Dollar”
The EUR/USD pair is forming another descending structure. The price rebounded from 1.1224 and may continue falling towards 1.1170. Later, in our opinion, the market may be corrected to return to 1.1224 and then move downwards again to reach 1.1116.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair broke its consolidation range upwards and may be corrected with the target at 1.3100. According to an alternative scenario, the price may return to the upside border of the daily consolidation range. After that, the instrument may continue falling inside the downtrend towards the local target at 1.2800.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is growing towards 0.9800; this ascending movement may be considered as a part of the wave with the target at 0.9940.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving in the center of the consolidation range without any particular direction. Possibly, today the market may return to the upside border of the range and then move downwards to break 100.00. The local target is at 98.00.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair completed its ascending wave. Possibly, the price may extend this wave up to 0.7700. After that, the instrument may form another consolidation range with a reversal pattern and then continue falling inside the downtrend to reach 0.7400.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating. Possibly, the price may move towards 64.72. Later, in our opinion, the market may continue falling inside the downtrend to reach 63.00.
XAUUSD, “Gold vs US Dollar”
Being under pressure, Gold is falling. Possibly, today the price may test 1330 from below and then continue falling towards 1318. This structure may be considered as a part of the fifth descending wave with the target at 1295.
BRENT
Being under pressure, Brent is falling as well. We think, today the price may form another structure of the fifth wave. The target is at 45. The instrument is expected to complete the current correction and then start growing towards 52.20.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.