Analysis for October 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside the narrow consolidation channel at the top of flag correctional pattern. The main scenario implies that the price may fall to reach 1.1274, grow to test 1.1340 from below, and then continue falling inside the downtrend towards 1.1000. An alternative scenario suggests that the pair may grow to expand the channel towards 1.1410 and after that continue moving inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating. The main scenario implies that the price may break this channel and continue falling inside the downtrend to break 1.5165. The main target of the wave is at 1.4660. An alternative scenario suggests that the pair may try to expand the channel towards 1.5462 and after that continue moving downwards.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside a large consolidation channel. The main scenario implies that the price may continue growing to reach 0.9870. An alternative scenario suggests that the pair may expand the channel downwards to reach 0.9546. After that, the price may continue moving upwards.
USD JPY, “US Dollar vs Japanese Yen”
Being under influence, Yen is falling towards triangle’s lower border. The main scenario implies that the price may continue falling towards 118.75. An alternative scenario suggests that the market may rebound from the border and move upwards to reach 120.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the descending impulse with the target at 0.7150, which may be considered as the fourth wave. Later, in our opinion, the pair may form the fifth wave towards 0.7400 and then continue falling inside the downtrend to reach 0.6600.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving without any corrections to break 61.00 downwards. We think, today, the price may grow to return to 63.70 (the correction) and then fall to reach the local target at 60.00. After that, the instrument may start another growth towards 64.50 as the fourth wave.
XAU USD, “Gold vs US Dollar”
Gold is forming the ascending structure with the target at 1178, which may be considered as the third wave inside the uptrend. Later, the market may fall to reach 1150 and then continue growing towards 1220. After that, the instrument may start a new correction to return to test 1150.
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