Forex Technical Analysis for 03.11.2015

November 3, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating without any particular direction. The main scenario remains the same and suggests that the market may continue falling inside the downtrend towards the 1.0500. An alternative scenario implies that the price may try to break the consolidation channel upwards to reach 1.1106. After that, the instrument may continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming the first descending impulse. The target is at 1.5381. After that, the instrument may return to 1.5438 and then continue moving downwards to reach 1.5276.

USD CHF, “US Dollar vs Swiss Franc”

Franc is consolidating without any particular direction. We think, today, the price may continue moving upwards to break the top and reach 1.0070. An alternative scenario implies that the market may fall towards 0.9784 in the first place and after that form the ascending wave with the target at 1.0070.

USD JPY, “US Dollar vs Japanese Yen”

Yen is consolidating. We think, today, the price may fall to reach 119.60 and then return to 120.50 to test it from below. After that, the instrument may continue falling inside the downtrend towards the target at 118.70.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has reached the target of its correction. We think, today, the price may form another descending structure with the target at 0.7017. After that, the instrument may start growing to reach a new high and 0.7398.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still consolidating. The main scenario suggests that the market may fall towards 60.00. An alternative scenario implies that the price may follow the oil prices and grow towards 66.00. After reaching it, the pair may continue falling inside the downtrend.

XAU USD, “Gold vs US Dollar”

Gold is consolidating. We think, today, the price may continue its descending movement to reach 1125. After that, the instrument may be corrected towards 1145 and then resume its decline towards 1118.

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