Forex Technical Analysis for 27.11.2015

November 27, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is moving inside a very narrow trading range without any particular direction; this structure has been formed inside the downtrend. We think, today, the price may continue falling to reach 1.0500. The main target of this descending wave is at 1.0300.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is consolidating; it hasn’t completed the correction yet. Possibly, today the price may grow to reach 1.5149. After that, according to the main scenario, the instrument may continue falling inside the downtrend to reach 1.5000. Later, in our opinion, the market may form another correction to return to 1.5150. 

USD CHF, “US Dollar vs Swiss Franc”

Franc is also consolidating. We think, today, the price may continue growing towards 1.0282 and then return to 1.0200. After that, the instrument may continue growing inside the uptrend to reach 1.0420.

USD JPY, “US Dollar vs Japanese Yen”

Being under pressure, Yen is moving downwards. The correction is expected to continue and right now the pair is forming its fifth structure. The target of the correction is at 121.85. After that, the instrument may return to 122.75.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is being corrected downside towards 0.7200. After that, the instrument may start growing to reach 0.7300. Later, in our opinion, the market may continue falling towards 0.7150.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is moving in the center of triangle consolidation pattern. We think, today, the price may test the pattern’s upper border, rebound from t, and then continue falling inside the downtrend towards 63.82. This would be only a half of the third descending wave. The local target of this wave is at 61.00; the main one – at 60.00.

XAU USD, “Gold vs US Dollar”

Gold is consolidating; this trading range may be considered as triangle pattern.  We think, today, the price may reach a new low and then form the fifth structure to return to 1075. After rebounding from the upper border, the instrument may continue falling inside the downtrend towards 1015. Later, in our opinion, the market may start another correction to return to 1180.

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