Analysis for November 2nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has almost left its ascending channel; the pair has completed the correction. We think, today, the price may continue falling inside the downtrend towards the 1.0850. After that, the instrument may test 1.1000 from below and then continue moving downwards to reach 1.0500.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has expanded its consolidation channel upwards and almost finished the correction. We think, today, the price may continue falling inside the downtrend towards 1.5165. After that, the instrument may form another consolidation channel as a continuation pattern and then continue moving downwards to reach 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc is testing its consolidation channel from above. We think, today, the price may continue moving upwards to reach 1.0014. After that, the instrument may test 0.9840 from above one more time.
USD JPY, “US Dollar vs Japanese Yen”
Yen is falling towards the lower border of its consolidation channel. We think, today, the price may reach 119.90 and then return to 120.55. After that, the instrument may continue falling inside the downtrend towards the target at 118.42.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the ascending structure with the target at 0.7183, which may be considered as the correction. After that, the instrument may start another descending structure with the target at 0.7000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming the descending structure towards 60.00. We think, today, the price may break the minimum of another descending impulse and fall to reach 62.57. After reaching it, the pair may consolidate and continue falling inside the downtrend.
XAU USD, “Gold vs US Dollar”
Gold is falling and trying to break the last week’s minimum. We think, today, the price may continue its descending structure to reach 1122.00. After that, the instrument may be corrected to return to 1152.45 and then resume its decline towards 1100.00.
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