Forex Technical Analysis for 12.11.2015

November 12, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is attempting to expand its consolidation channel upwards, to return to 1.088. However, this growth may be only considered as an alternative scenario. The main scenario suggests that the market may break its lows and continue falling inside the downtrend towards the next target at 1.0500. After that, the instrument may continue moving downwards to reach 1.0300.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has completed the correction. However, due to the fact that the pair has broken 1.5141, it may form a continuation pattern and reach 1.5255 once again. After that, the instrument may move according to the mains scenario – continue falling inside the downtrend towards the local target at 1.4848. Later, in our opinion, the market may test 1.5165 from below and then continue moving downwards to reach 1.4660.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving inside its consolidation channel. We think, today, the price may reach a new high at 1.0855 and then test 1.0043 from above. After that, the instrument may continue growing inside the uptrend to reach 1.0176. An alternative scenario (considering that the pair is extending this wave without any corrections) implies that the price may expand this consolidation channel downwards to reach 0.9951. Later, in our opinion, the market may start another growth to reach 1.0400.

USD JPY, “US Dollar vs Japanese Yen”

Yen has finished its first descending impulse, but the correction continues. We think, today, the price may test 123.32 from below and then continue falling towards 121.36. After that, the instrument may form another ascending structure to reach 124.70.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has expanded its consolidation channel upwards; however, the descending wave looks like a three-wave structure. We think, today, the price may form another impulse to reach 0.7000. After that, the instrument may return to 0.7210.

USD RUB, “US Dollar vs Russian Ruble”

Following the oil prices decline, Ruble has broken its current high. We think, today, the price may complete the ascending structure of this correction by reaching 65.85. Later, in our opinion, the market may form a reversal pattern to start a new descending wave. The local target is at 60.00.

XAU USD, “Gold vs US Dollar”

Gold has expanded its consolidation channel downwards. We think, today, the price may return to 1091 to test it from below. After rebounding from it and reaching new lows, the instrument may continue moving downwards to reach the target at 1015. An alternative scenario implies that the market may grow to break the channel’s upper border and form the correction with the target at 1107. Later, in our opinion, the price may continue falling inside the downtrend.

Publication source
RoboForex information  RoboForex reviews

January 18, 2017
Stock markets continued to stabilise
German HICP confirmed at 1.7% y/y, as expected, with prices up 1.0% m/m. The sharp acceleration from just 0.7% y/y in November was mainly due to base effects from lower energy prices and the breakdown showed that prices for heating oil jumped 21.9% y/y in December...
January 18, 2017
Pound Sterling soars on PM May's Brexit speech
The British pound posted strong gains yesterday with the Prime Minister Theresa May outlining her vision for Brexit and the parliamentary approval of the Brexit deal...
January 18, 2017
Sterling remains in the spotlight
The Sterling/Dollar exploded into extreme gains on Tuesday with prices clipping above 1.2400 after Prime Minister Theresa May’s optimistic Brexit speech signaled that the United Kingdom was seeking a deal which would satisfy both parties...

OANDA Rating
Vantage FX Rating
FIBO Group Rating
FXCM Rating
Z.com Trade Rating
FBS Rating

IQ Option Rating
365BinaryOption Rating
TopOption Rating
Empire Option Rating
Banc De Binary Rating
OptionRally Rating