Analysis for May 19th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to continue growing according to alternative scenario and right now is forming a descending impulse. The target of this impulse is at level of 1.1200. If the market isn’t able to continue consolidating, break the top, and extend this wave, the pair will resume falling inside the downtrend and reach new lows.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still falling and forming the first descending impulse with the target at level of 1.5520. After reaching it, the price may form a correction to return to level of 1.5665 and then start another descending wave. The target is at level of 1.5200.
USD CHF, “US Dollar vs Swiss Franc”
Franc is about to finish the current correction. We think, today, the price may reach level of 0.9279 and then continue falling to break its lows. The target of this descending movement is at level of 0.8870.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its ascending wave. We think, today, the price may form another descending structure to break its lows and then continue falling to reach level of 117.80. After reaching it, the price may test level of 119.00 from below and then continue falling towards level of 117.44.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of its first correctional wave. We think, today, the price may form an ascending structure to return to level of 0.8065. After that, the pair may start the third correctional wave with the target at level of 0.7900.
USD RUB, “US Dollar vs Russian Ruble”
Being influenced by fundamental background, Ruble is still falling. We think, today, the price may continue moving downwards to reach level of 46.00. However, an alternative scenario implies that the pair may break its descending channel and start forming an ascending correction with the target at level of 58.50.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today, the price may fall towards the lower border of this channel at level of 1211. Later, in our opinion, the market may move according to an alternative scenario towards level of 1250 and then start falling to return to level of 1210.
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