Forex Technical Analysis 18.09.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

September 18, 2015

EUR USD, “Euro vs US Dollar”

Being influenced by the news, Eurodollar has reached its upside target. This wave may be considered as a correctional one, which has no more potential to grow. In the future, the market is expected to form a reversal pattern inside the ascending channel, break the channel downwards, and start falling with the target at 1.1000. We think, today, the price may reach 1.1335 and then grow to test 1.1398 from below. After reaching 1.1335, the pair may form the wave with the target at 1.1240.  

GBP USD, “Great Britain Pound vs US Dollar”

Being influenced by the news, Pound has tested 1.5620 from below; this level is the broken resistance level of the previous descending structure. The ascending structure may yet continue up to 1.5650. We think, today, the price may form a reversal pattern to resume the downtrend. The first target is at 1.5407. An alternative scenario suggests that the market may grow a bit and then continue falling inside the downtrend. The local downside target is at 1.4700.

USD CHF, “US Dollar vs Swiss Franc”

Being influenced by the news, Franc has expanded the correction downwards and reached the target. We think, today, the price may form another consolidation channel, break it upwards, and then continue growing towards 0.9870.

USD JPY, “US Dollar vs Japanese Yen”

Being influenced by the news, Yen has broken 120.00 downwards again, formed a continuation pattern, and right now is falling towards 118.70. We think, today, the price may reach 119.04 and then return to 120.00 to test it from below. After that, the pair may continue falling.

AUD USD, “Australian Dollar vs US Dollar”

Being influenced by the news, Australian Dollar has reached all targets of the ascending wave. We think, today, the price may fall towards 0.7100 (at least) and then form another ascending wave to reach 0.7290.

USD RUB, “US Dollar vs Russian Ruble”

Ruble has returned to 66.00. We think, today, the price may return to 65.00 and form a continuation pattern to fall to 63.00. After that, the pair may test 66.00 from below, thus forming another consolidation channel between the specified levels. If later the market breaks this channel downwards – it may continue falling towards 52.50; if upwards – form the correction with the target at 68.00.

XAU USD, “Gold vs US Dollar”

Being influenced by the news, Gold has reached the target of its first ascending wave. We think, today, the price may fall to return to 1113.44 (as a correction). After that, the market is expected to continue moving upwards to reach 1160.75.

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