Forex Technical Analysis 20.08.2015

EUR USD, "Euro vs US Dollar"

Eurodollar has completed the correctional wave towards its previous decline. We think, today, the price may form another descending structure towards 1.0993. After that, the pair may test 1.1068 and then fall again to reach 1.0922.

GBP USD, "Great Britain Pound vs US Dollar"

Pound is consolidating at the top of its ascending wave. The main scenario implies that the price may fall inside the downtrend towards 1.5240. An alternative scenario suggests that the market may form the correction towards 1.5624, break the consolidation channel, and continue growing to reach 1.5765.

USD JPY, "US Dollar vs Japanese Yen"

Yen is consolidating inside the correctional structure. We think, today, the price may reach 123.60 and then test 124.15 from below. After that, the market may start another decline towards 123.00 and then form one more ascending structure to reach 125.45.


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