Analysis for November 20th, 2014
EUR USD, “Euro vs US Dollar”
Euro has formed the third ascending wave. We think, today the price may start a new correction towards level of 1.2488, at least. Later, in our opinion, the market may move upwards to reach level of 1.2620.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached a new low and formed an ascending impulse. We think, today the price may complete this descending movement as a correction towards the above-mentioned ascending impulse. The target of this correction is at level of 1.5650. Later, in our opinion, the market may start growing to reach level of 1.5765.
USD CHF, “US Dollar vs Swiss Franc”
Franc has formed another descending impulse. We think, today the price may form a correction to return to level of 0.9620. Later, in our opinion, the market may form another descending structure with the target at level of 0.9500.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues growing and extending its ascending wave; this extension may reach level of 119.00. Later, in our opinion, the market may consolidate and form a reversal structure. After that, the pair is expected to start a serious descending wave.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving inside a descending structure. Later, in our opinion, the market may form a consolidation channel, break it upwards, and then move towards the next upside target at level of 0.8815.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still falling and forming short descending impulses. We think, today the price may reach a local target at level of 45.89. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The target is at level of 43.94.
XAU USD, “Gold vs US Dollar”
Gold has returned to level of 1178 to test it from above. Later, in our opinion, the market may continue growing to reach level of 1208.75 and then move downwards again to reach level of 1188. After that, the price may start forming another ascending structure towards level of 1223.
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.