Forex Technical Analysis 19.10.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
19.10.2015
Analysis for October 19th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating; the current decline may be considered as the correction with the target at 1.1300, at least. After that, the instrument may return to 1.1400 and then continue falling to reach 1.1140. An alternative scenario suggests that the pair may form the fifth structure of flag pattern towards 1.150 and then continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating as well; this channel may be considered as the start of the correction towards 1.5320. We think, today, the price may reach a new low and then continue falling inside the correction. Later (an alternative scenario), the pair may form another ascending structure towards 1.5550 and then continue falling inside the downtrend to break 1.5160.
USD CHF, “US Dollar vs Swiss Franc”
Franc is also consolidating; this channel may be considered as the start of the correction to return to 0.9630. Later (an alternative scenario), the pair may form another ascending structure towards 0.9420 and then continue growing inside the uptrend to reach 0.9870.
USD JPY, “US Dollar vs Japanese Yen”
Yen has returned to 119.50. Possibly, the price may reach 120.00. After that, the instrument may continue moving inside the downtrend. The next target is at 117.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating inside triangle pattern. We think, today, the price may fall to reach 0.7170 (at least) or even continue this correction towards 0.7070.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues forming the third descending wave with the target at 60.00. After reaching it, the price may start the correction towards 64.50 and then continue falling to reach the target at 57.00.
XAU USD, “Gold vs US Dollar”
Gold is moving to break the previous ascending structure. We think, today, the price may form the correction to reach 1163.90 and then grow towards 1198.50. After that, the instrument may return to 1155.00 and then grow to reach 1220.00. This entire growth may be considered as an alternative to scenario to continue the correction. The main scenario remains the same – the market is expected to continue falling inside the downtrend.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.