Analysis for August 28th, 2015
EURUSD, “Euro vs US Dollar”
Being under pressure, Eurodollar continues falling. The pair is forming a new consolidation channel. We think, today, the price may try to form a correction towards 1.1380. After that, the market may continue moving downwards. The local target is at 1.1070.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is forming another consolidation channel. Possibly, the pair may try to form a correction towards 1.5530. After that, the market may start another decline to reach 1.5345.
USDCHF, “US Dollar vs Swiss Franc”
Franc has extended its ascending structure; the market is still rebounding from the lower border of triangle pattern towards the upper one. The pair has formed a continuation pattern near 0.9567. We think, today, the price may test this level from above and then start another growth 0.9874.
USDJPY, “US Dollar vs Japanese Yen”
Yen is being corrected towards 119.42. After that, the pair may grow to reach 123.66 and then fall to reach new lows and 115.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating inside triangle pattern. We think, today, the price may test 0.7150 from above and form another ascending structure with the target at 0.7228. After that, the pair may form another descending structure to reach 0.6950.
USDRUB, “US Dollar vs Russian Ruble”
Ruble has formed the second descending impulse. We think, today, the price may 68.20 from below and then start forming the third descending impulse towards 64.24. This structure may be considered as the first wave of a new decline.
XAUUSD, “Gold vs US Dollar”
Gold is forming the second wave of the correction. We think, today, the price may reach 1138.00 and then test 1128.35 from above. After that, the market may grow to reach the target of the correction at 1139.85 and then start another descending wave towards 1110.48.
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