Analysis for May 27th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming a descending structure with the target at level of 1.0810. However, an alternative scenario implies that the price may test level of 1.1000 from below. Later, in our opinion, the market may continue falling inside the downtrend to reach its local target.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming another descending structure; which may be considered as the third wave; right now, the pair is moving in the middle of it. We think, today, the price may continue falling to reach level of 1.5120. An alternative scenario suggests that the market may try to test level of 1.5586 from below, and then continue falling inside the downtrend.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving upwards. We think, today, the price may continue forming this wave and extend it towards level of 0.9681. An alternative scenario suggests that the market may test level of 0.9400 from above and then continue growing towards its target.
USD JPY, “US Dollar vs Japanese Yen”
After making another attempt to reach a new high, Yen has formed one more descending impulse. We think, today, the price may break this consolidation channel downwards and then continue falling to return to level of 122.30. Later, in our opinion, the market may test level of 122.80 from below.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving downwards; the pair has broken level of 0.7834 and formed a continuation pattern near it. We think, today, the price may test this level from below. Later, in our opinion, the market may continue falling inside the downtrend towards level of 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken its consolidation channel upwards. We think, today, the price may reach level of 51.00 and then return to level of 59.00. Later, in our opinion, the market may start a new ascending movement to form the third wave of the current correction. The local target is at level of 55.00.
XAU USD, “Gold vs US Dollar”
Gold continues falling inside the downtrend to reach the target at level of 1178. We think, today, the price may test level of 1195 from below and then continue falling towards the above-mentioned target.
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