Analysis for August 27th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has reached the target of its descending wave and broken the ascending channel. We think, today, the price may correct this wave towards 1.1500. However, clearance of the channel may force the pair to consolidate near it. If the price reaches a new low and expand the trading range downwards, the next target will be at 1.0940.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound continues falling. The pair has broken the ascending channel, thus completing the correction. We think, today, the price may start forming another descending wave inside the downtrend towards 1.5240. The local target is at 1.5350.
USDCHF, “US Dollar vs Swiss Franc”
Franc continues growing with the target at 0.9567. After that, the pair may fall and form a correction towards 0.9400. The market is expected to form another consolidation channel. If this channel is broken upwards, the price may form an ascending wave with the target at 0.9700; if downwards – continue falling inside the downtrend to reach 0.9200.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still forming its ascending wave towards 120.74. After that, the pair may fall to return to 119.17 and form a consolidation channel below it. If this channel is broken downwards, the price may continue falling inside the downtrend to reach 115.00; if upwards – continue the current correction towards 121.50.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating below 0.7143. If the price break this channel downwards, the market may fall to reach 0.6950; if upwards – grow towards 0.7320.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is forming another descending impulse. The pair is expected to form a descending wave with the target at 64.25. After that, the pair may test 68.20 from below and then start another decline towards 62.85.
XAUUSD, “Gold vs US Dollar”
Gold has reached the local target of its descending wave. We think, today, the price may return to 1139 to test it from below and then continue falling towards 1110.
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