20 October, 2014
Analysis for October 20th, 2014
EUR USD, “Euro vs US Dollar”
Euro is forming the third ascending structure. We think, today the price may reach the target at level of 1.2900 and then start a new correction towards 1.2670. Later, in our opinion, the market may form another ascending structure with the target at level of 1.3000. After that, the pair may form another correction towards level of 1.2670.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming the third ascending wave. We think, today the price may reach level of 1.6138 and then return to level of 1.6080, thus forming an upside continuation pattern. The target of the third wave is at level of 1.6225. Later, in our opinion, the market may form another correction to return to level of 1.6080.
USD CHF, “US Dollar vs Swiss Franc”
Franc continues forming the third descending structure. We think, today the price may continue falling to reach level of 0.9330 and then return to level of 0.9460. Later, in our opinion, the market may form the fifth descending structure with the target at level of 0.9235.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming a correction with the target at 107.56. We think, today the price may fall towards level of 106.36 and then move upwards to reach the above-mentioned target of the correction. Later, in our opinion, the market may start the fifth descending structure towards level of 105.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside a wide consolidation channel. We think, today the price may grow to reach level of 0.8880. Later, in our opinion, the market may start falling to return to level of 0.8760.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is forming a consolidation channel at the top of its ascending wave. We think, today the price may break it downwards to reach level of 40.25 and then return to level of 40.70. Later, in our opinion, the market may continue falling as a correction. The next target is at level of 39.38.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating; this consolidation may be considered as an upside continuation pattern. The target of this wave is at 1287. We think, today the price may fall to reach level of 1230. Later, in our opinion, the market may grow towards 1253 and then start a new descending movement to reach level of 1235.
RoboForex Analytical Department
The British Pound continues to grow on Wednesday. The currency is rather actively moving away from the previous local minimum. The current quotation of the GBP/USD pair is 1.5310. No one is talking about the pound moving above 1.55 yet there are too many external risks to which investors are not paying attention...
On Wednesday, the Japanese yen sharply strengthened in trading. Correction of the long-term low started on Monday, but enthusiasm by itself was not enough. And this morning there was a reason to continue selling in the USD/JPY pair...
Yesterday the euro/dollar "took advantage" of weak statistics from ADP in the US and moved up to new highs...
By the end of the week the USD/JPY pair stopped falling as significantly as was observed...
After a short pause, the main currency pair is dropping again – sympathy of investors remains...
After a frantic and nervous January the euro/dollar seems to have...
The Eurocurrency needs very little for happiness: good statistics - and the main currency pair jumps up...
Euro has returned to test triangle pattern from below. We think, today the price may fall towards level of 1.2400 and then form a consolidation channel. If later the channel is broken downwards, the pair may move downwards to reach level of 1.2200...
Euro has started its ascending movement under the influence of recent news. Basic scenario is that price may start moving towards level of 1.3590 with the first target at level of 1.3400...