Forex Technical Analysis for 18.11.2015

November 18, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has formed its descending structure and broken the consolidation channel downwards.  We think, today, the price may return to 1.0730and then continue falling inside the downtrend to reach 1.0563. After that, the instrument may test 1.0630 from below and then continue moving downwards to reach 1.0500.

GBP USD, “Great Britain Pound vs US Dollar”

Yesterday, being influenced by fundamental background, Pound completed the correction towards two descending impulses. We think, today, the price may form another impulse to reach 1.5144 and then test 1.5200 from below. After that, the instrument may continue falling inside the downtrend towards 1.5000.

USD CHF, “US Dollar vs Swiss Franc”

Franc is consolidating at the top of its ascending wave. We think, today, the price may fall to test 1.0040 from above and then continue growing inside the uptrend to reach 1.0247. After that, the instrument may test 1.0185 from above and then move upwards again to reach 1.0400.

USD JPY, “US Dollar vs Japanese Yen”

Yen is consolidating at the top of its ascending structure. We think, today, the price may break this consolidation channel upwards and reach 123.84. However, if the pair breaks it downwards, the market may start a new correction towards 122.80.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is consolidating. We think, today, the price may break the channel upwards and form another ascending structure with the target at 0.7200. After that, the instrument may fall towards 0.7000. However, if the market breaks the channel downwards, the pair may reach 0.7000 at first and then grow towards 0.7200.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is moving downwards. We think, today, the price may reach 64.84 and then return to 65.82. After that, the instrument may form another descending structure with the target at 63.60.

XAU USD, “Gold vs US Dollar”

Gold has expanded its consolidation channel downwards. We think, today, the price may return to 1080 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach the target at 1015.

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