Forex Technical Analysis 21.08.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

August 21, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has extended the current ascending wave and almost reached its target. We think, today, the price may start forming a reversal structure to continue falling inside the downtrend. The first target is at 1.1000. After that, the pair may test 1.1110 from below.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is trying to break its highs and reach the target of the ascending wave at 1.5823. This growth is considered as an alternative scenario. The main scenario remains the same – it implies that the price may continue falling inside the downtrend towards 1.5240. The market may start falling to reach the target at any moment.

USD CHF, “US Dollar vs Swiss Franc”

Franc has almost returned to the upside continuation pattern to test this structure from above. After that, the market may resume growing and form an ascending wave to reach 1.0000.

USD JPY, “US Dollar vs Japanese Yen”

Yen has almost reached the target of its fourth correctional wave, which turned out to be a three-wave structure. We think, today, the price may form the fifth wave towards 125.45.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has rebounded from 0.7352 and today is falling towards 0.7252. After that, the market may test 0.7300 from below and then continue moving downwards to reach 0.7200.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues “monitoring” the oil market. We think, today, the price may reach another new highs. The price has reached the target of its ascending wave and may start falling at any moment. The first target is at 52.50.

XAU USD, “Gold vs US Dollar”

Gold has reached the target of the first wave of the correction at 1161. We think, today, the price may fall towards 1110 (at least) and then form a five-wave flag pattern.

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