Forex Technical Analysis 26.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
26.05.2016
Analysis for May 26th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is attempting to form a correction towards 1.1200 to test it from below. We think, today the price may reach 1.1168 and then grow towards 1.1200. After that, the pair may form another descending structure with the target at 1.1110.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving according to an alternative scenario and forming another ascending structure with the target at 1.4782. After that, the pair may test 1.4612 from below and then form one more ascending structure towards 1.4900, thus completing this ascending wave. Later, in our opinion, the market may start falling inside the downtrend.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating and forming a descending structure with the target at 0.9870. We think, today the price may grow to reach 0.9800 to test it from below and then fall towards 0.9870. After that, the pair may move upwards to reach the upside border of this range and then complete this ascending wave by reaching 0.9944. Later, in our opinion, the market may start a more serious correction with the target at 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming another descending structure. After breaking the triangle’s downside border, the price may fall towards 108.94; and this is just a half of the third wave. After that, the pair may reach 107.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is being corrected towards 0.7240. After that, the pair may continue falling inside the downtrend to reach 0.7130, thus completing this descending wave. Later, in our opinion, the market may start a new correction towards 0.7480.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble has broken its consolidation channel downwards and right now is still falling. We think, today the price may reach 63.70 and then test 65.00 from below.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating; the market has expanded it upwards. The price is expected to reach 1235.25 and then continue falling towards 1200.00.
RoboForex Analytical Department
Attention!
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.