Forex Technical Analysis for 19.11.2015

November 19, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has returned to the center of the consolidation channel.  We think, today, the price may continue moving downwards to reach new lows. The main scenario suggests that the pair may continue falling inside the downtrend to reach 1.0500.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has expanded its consolidation channel upwards and completed another ascending structure. We think, today, the price may fall towards the lower border of the channel. After breaking the minimums, the instrument may continue falling inside the downtrend towards 1.4848.

USD CHF, “US Dollar vs Swiss Franc”

Franc is extending its ascending structure. We think, today, the price may reach 1.0250 and then form another consolidation channel. After that, the instrument may break the channel upwards to continue growing and reach 1.0400.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating at the top of its ascending structure. We think, today, the price may reach 123.84 once again and then start the correction with the target at 122.00. After that, the instrument may form another ascending structure, the fifth one, to reach 125.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is growing towards 0.7178. We think, today, the price may break the current maximum and then start forming another descending wave with the target at 0.7000. After that, the instrument may grow towards 0.7398.

USD RUB, “US Dollar vs Russian Ruble”

Ruble has completed the first structure of its descending wave. We think, today, the price may be slightly corrected towards 65.75 to test it from below and then start another descending structure to reach 63.60. After that, the instrument may test 64.80 from below and then continue falling inside the downtrend.

XAU USD, “Gold vs US Dollar”

Gold is growing towards 1080 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach 1050. After that, the instrument may consolidate for a while and then fall to reach 1015.

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