Analysis for May 25th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has broken Friday’s minimum and right now is still consolidating. We think, today, the price may form a downside continuation pattern as the third structure; the target is at level of 1.0800. Later, in our opinion, the market may start a correction to return to level of 1.1000 and then continue falling inside the downtrend towards level of 1.0540.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming another descending structure to reach level of 1.5399. After reaching this level, the price may form another consolidation channel, break it downwards, and then reach the local target at level of 1.5121.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues forming an ascending structure towards level of 0.9490. Later, in our opinion, the market may return to level of 0.9288 and then continue growing towards level of 0.9500.
USD JPY, “US Dollar vs Japanese Yen”
Yen has expanded its consolidation channel upwards and may continue moving towards the target at level of 122.30. We think, today, the price may reach level of 121.84. Later, in our opinion, the market may return to level of 120.36 and then continue growing towards the above-mentioned target.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the channel and reached its target. We think, today, the price may continue forming an ascending structure to return to level of 0.7990. An alternative scenario implies that the market may form a consolidation channel at the current lows, break it downwards, and then extend this wave towards level of 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken its descending channel and may continue forming an ascending correction. The target of this correction is at level of 58.50. however, so far the pair is consolidating near level of 50.00 without any particular direction. The regulator is assumed to take measures to avoid market fluctuations.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. If the price breaks the channel downwards, it may continue falling inside the downtrend towards level of 1178; if upwards (an alternative scenario) – grow towards level of 1210.
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