Forex Technical Analysis 04.04.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)


Analysis for April 4th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is moving according to an alternative scenario, which implies that it may reach 1.1570. We think, today the price may reach 1.1365 and then grow towards 1.1462. After that, the market may consolidate and grow to reach 1.1510.

GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, Pound is moving downwards. We think, today the price may reach 1.4114 and then grow towards 1.4278. After that, the pair may fall with the target at 1.4077.

USD CHF, “US Dollar vs Swiss Franc”

Franc is falling with the target at 0.9472. We think, today the price may reach 0.9606 and then fall towards 0.9547. After forming a continuation pattern, the pair is expected to reach 0.9475. The entire decline is considered as an alternative scenario. Later, in our opinion, the market may form a reversal pattern to continue growing inside the uptrend.

USD JPY, “US Dollar vs Japanese Yen”

Yen has expanded its trading range downwards and reached the target. In fact, the pair has returned to the lower border of its two-month consolidation channel. We think, today the price may grow towards 112.00. Later, in our opinion, the market may continue falling with the target at 110.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has completed its descending wave and the correction; both structure are of the impulse nature. The market has defined the borders of its new consolidation channel. If the pair breaks the channel upwards, it may extend this structure towards 0.7817 (an alternative scenario); if downwards – fall to reach 0.7400.

USD RUB, “US Dollar vs Russian Ruble”

Russian Ruble is consolidating at its lows. Possibly, the price may grow to reach 70.50. However, the main scenario implies that the market may continue forming the third descending wave with the target at 65.00.

XAU USD, “Gold vs US Dollar”

Gold is forming the third descending wave. We think, today the price may reach 1196. Later, in our opinion, the market may return to 1233 and then continue falling towards 1186.

RoboForex Analytical Department


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.