Forex Technical Analysis for 23.11.2015

November 23, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has reached a new low. We think, today, the price may consolidate in a narrow trading range and then continue falling towards the next target at 1.0500. After that, the instrument may test 1.0615 from below and then resume falling inside the downtrend to reach 1.0300.

GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, Pound is moving downwards. We think, today, the price may continue falling to reach 1.5000 and then test 1.5175 from below. After that, the instrument may continue falling inside the downtrend to reach the local target of this wave at 1.4660.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still moving upwards. We think, today, the price may reach 1.0123 and then fall towards 1.0107. After that, the instrument may continue growing inside the uptrend to reach 1.2793.

USD JPY, “US Dollar vs Japanese Yen”

Yen has returned to the center of its first descending impulse, thus defining the borders of another consolidation channel. If the channel is broken downwards, the price may continue the correction to reach 122.00; if upwards – continue growing towards 123.85.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is falling; it has almost broken the consolidation channel downwards. We think, today, the price may reach 0.7122 and then test 0.7184 from below. If later the channel is broken downwards, the price may continue falling with the target at 0.7000; if upwards – reach 0.7300.

USD RUB, “US Dollar vs Russian Ruble”

Ruble has broken its narrow consolidation channel upwards. We think, today, the price may be corrected towards 65.82 and then form another descending wave with the target at 62.85. After that, the instrument may return to 64.85.

XAU USD, “Gold vs US Dollar”

Gold continues falling. We think, today, the price may reach 1056.60 and then test 1072.52 from below. After that, the instrument may continue falling inside the downtrend towards 1033.00. The main target is at 1015.00.
 
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