Analysis for October 26th , 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has returned to the center of its ascending structure; the structure may yet continue. We think, today, the price may continue falling inside the downtrend to reach 1.0982. After that, the instrument may grow towards 1.1184 and then continue falling to reach 1.0875.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has returned to the center of its ascending structure and right now is consolidating. The main scenario suggests that the pair may continue falling towards 1.5165. We think, today, the price may reach 1.5249, return to 1.5353 to test it from below, and then continue falling inside the downtrend. An alternative scenario implies that the regulator may try to prevent the pair from falling and even force it to reach 1.5523. After that, the instrument may continue falling inside the downtrend with the target at 1.4660.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming another ascending wave to expand its consolidation channel upwards to reach 0.9870. After that, the instrument may consolidate, break the channel upwards, and reach 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the ascending structure on its way to the upper border of the consolidation channel. We think, today, the price may fall towards the lower border. The main scenario suggests that the pair may break the border and then continue falling inside the downtrend towards 115.00. The market may reach 119.62 during the day.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another descending wave with the target at 0.7168. After reaching it, the pair may move upwards to reach a new high and 0.7398 and then return to 0.7168. After that, the instrument may complete this correction by growing and forming the fifth wave with the target at 0.7420 and then continue falling inside the downtrend.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Ruble is moving upwards. Taking into consideration the decline of the oil prices, today the price may test 64.50 from below and then start another decline to reach 60.00.
XAU USD, “Gold vs US Dollar”
Gold continues falling inside the downtrend. We think, today, the price may reach 1155 and then move according to an alternative scenario to extend the correction towards 1206.
