Analysis for April 3rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving slowly without any particular direction; the market is preparing for the long weekend. The only thing that can make the difference today is the fundamental factor on the American market. We think, today the price may fall towards level of 1.0789 and then start growing to break the current maximum. After that, the pair may move downwards to reach level of 1.0607.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has been moving inside a narrow consolidation channel for almost a week. We think today, being influenced by fundamental background, the price may move according to one of the following scenarios: it may either expand this channel upwards and reach level of 1.5000, or expand it downwards and reach level of 1.4400.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving slowly without any particular direction and may be influenced only by fundamental background. We think, today the price may reach level of 0.9682 and then return to level of 0.9545. After that, the market is expected to grow to return to level of 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
Yen is also moving slowly without any particular direction. The only things that can make the difference today are the fundamental factors. We think, today the price may continue moving downwards to reach level of 117.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has broken the minimum of its major descending wave. We think, today the price may form another descending structure towards level of 0.7510. After that, the price may return to level of 0.7720.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving downwards; the main target is at level of 55.00. After reaching it, the pair may return to level of 58.00 and then start another descending movement towards level of 48.00. In general, the market is expected to form a descending wave with the target at level of 44.00.
XAU USD, “Gold vs US Dollar”
Gold has formed an ascending structure; which may be considered as a correction of the previous descending impulse. We think, today the price may fall to break the maximum of the current ascending structure then fall towards the target at 1167. The main target is at 1113.
RoboForex Analytical Department