Analysis for April 8th, 2014
EUR USD, “Euro vs US Dollar”
Euro is moving upwards and may return to level of 1.3760. After reaching it, price may continue falling down towards level of 1.3620. Later, in our opinion, instrument may start consolidating, form reversal pattern, and then continue growing up towards level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still being corrected towards previous descending wave; this movement may be considered as the second wave inside the fifth one. We think, today price may return to level of 1.6628and then continue falling down towards target at level of 1.6490.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving downwards; market reached minimum of its correction. We think, today price may consolidate for a while and reach new minimum. Later, in our opinion, instrument may start another ascending structure to renew maximum of this ascending wave.
USD JPY, “US Dollar vs Japanese Yen”
Yen reached target of its correction. We think, today price may consolidate and form reversal pattern. Later, in our opinion, instrument may start forming another ascending wave with target at level of 104.20.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar completed the first descending impulse and corrected it. We think, today price may reverse to start another descending structure and break minimum of the first impulse. Later, in our opinion, instrument may continue moving downwards to reach level of 0.9230.
USD RUB, “US Dollar vs Russian Ruble”
Ruble completed the first wave of new ascending structure. We think, today price may fall down to reach level of 35.33 (this descending movement may be considered as right shoulder of head & shoulders
pattern with target at 36.60) and then form the third ascending wave with local target level of 36.20.
XAU USD, “Gold vs US Dollar”
Gold is forming the third structure of ascending wave with target at level of 1309.73. After reaching it, price may fall down towards level of 1295.66 and then complete this first ascending wave by forming its fifth structure with target at 1314.00. Later, in our opinion, instrument may start forming correctional flag
RoboForex Analytical Department