Analysis for November 28th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar has completed another correctional descending structure. We think, today the price may break this descending channel and continue growing. Later, in our opinion, the market may form a consolidation channel, break it upwards, and reach the main target at level of 1.2610.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving inside a descending channel, which may be considered as a correctional one. We think, today the price may break it and continue growing to reach the target at level of 1.5850. Later, in our opinion, the market may move downwards again to reach level of 1.5750.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completed its correction. We think, today the price may leave this correctional channel downwards and continue falling to reach level of 0.9600. Later, in our opinion, the market may form a consolidation channel and continue falling towards level of 0.9565.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving inside a consolidation channel; its borders are at 118.60 and 116.80. We think, today the price may reach the upper border and then fall towards the lower one. Later, in our opinion, the market may try to reach a new maximum once again at 119.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has formed a complete descending structure. We think, today the price may break its descending channel and continue growing towards level of 0.8640. Later, in our opinion, the market may start forming another consolidation channel, break it upwards, and reach level of 0.8800.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues moving upwards and extending its wave; it has already reached level of 49.00. Possibly, the price may try to extend this wave up to level of 49.90. Later, in our opinion, the market may start falling to return to level of 47.22.
XAU USD, “Gold vs US Dollar”
Gold has reached the targets of its descending correction. We think, today the price may break this correctional channel. Later, in our opinion, the market may grow to break level of 1208 and then continue moving upwards to reach a local target at 1235.
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GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
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US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
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