Forex Technical Analysis 28.05.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

May 28, 2015

EUR USD, “Euro vs US Dollar”

After reaching new lows, Eurodollar is trying to expand its consolidation channel upwards and may test level of 1.1000 from below. Later, in our opinion, the market may fall towards its local target at level of 1.0810 and then return to level of 1.1000, thus forming a new consolidation channel. After that, the pair may continue falling inside the downtrend to reach level of 1.0500.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has formed a half of its descending wave, and right now is forming a downside continuation pattern. We think, today, the price may break the minimum of its consolidation channel and continue falling to reach level of 1.5120.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating. We think, today, the price may continue growing to reach level of 0.9610 and then fall towards level of 0.9462. Later, in our opinion, the market may start another ascending movement with the target at level of 0.9813.

USD JPY, “US Dollar vs Japanese Yen”

Yen is attempting to continue its ascending movement. We should note, that this growth might stop at any moment. The pair is expected to form a reversal pattern and start falling inside the downtrend. The first target is at level of 120.70.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving downwards; this movement may continue up to the target at level of 0.7510. An alternative scenario suggests that the market may test level of 0.7817 from below and then continue falling inside towards the above-mentioned target.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues moving upwards in the middle of the third wave. We think, today, the price may form a consolidation channel near the current levels, break it upwards, and then continue growing towards level of 55.50. Later, in our opinion, the market may resume falling to return to level of 50.00.

XAU USD, “Gold vs US Dollar”

Gold is forming another consolidation channel. If the price breaks it downwards, it may reach the target at level of 1178; if upwards – test level of 1198. Later, in our opinion, the market may continue falling to reach the lower border of the daily consolidation channel.

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