Analysis for November 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside its consolidation channel without any particular direction; the entire wave is considered a part of the downtrend. We think, today, the price may continue falling inside the downtrend towards the next target at 1.0500. After that, the instrument may be corrected to return to 1.1000 (an alternative scenario). Later, in our opinion, the market may continue moving downwards to reach 1.0300.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has completed the correction. We think, today, the price may break the correctional channel and then continue falling inside the downtrend. The next target at 1.4940. After that, the instrument may form another ascending structure towards 1.5165 again and then continue moving downwards to reach 1.4848.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside its consolidation channel. We think, today, the price may continue growing to reach the next target at 1.0128. After that, the instrument may form another consolidation channel and then start another growth to reach 1.0200.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished its first descending impulse. We think, today, the price may return to 123.28 and then continue the correction towards 121.36. After that, the instrument may form another ascending structure to reach 124.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar hasn’t finished its descending structure yet; the pair is moving close to the upper border of the consolidation channel. We think, today, the price may fall towards the lower border, break it to expand the channel downwards, and complete this descending wave by reaching 0.7000. After that, the instrument may start another growth towards 0.7398.
USD RUB, “US Dollar vs Russian Ruble”
We think, today, the price may continue growing to reach 65.50 and then return to 64.00. After reaching it, the market may form another ascending structure towards 65.85 and then continue falling to reach 60.00.
XAU USD, “Gold vs US Dollar”
Gold is moving inside its consolidation channel without any particular direction. We think, today, the price may continue falling inside the downtrend. The next target is at 1075. After that, the instrument may form another consolidation channel and then continue moving downwards to reach the target at 1015.
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