Analysis for May 5th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still moving close to upper border of divergent triangle
pattern. We think, today price may continue moving upwards towards target at level of 1.3990. Later, in our opinion, instrument may return to level of 1.3890 and then move upwards again to level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound started forming descending structure, which may be considered as correction. We think, today price may grow up to reach new maximum, consolidate for a while near it, and then form reversal pattern. Later, in our opinion, instrument may start new correction towards level of 1.6690.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving downwards. We think, today price may fall down to reach level of 0.8700. Later, in our opinion, instrument may return to level of 0.8780 and then continue falling down towards level of 0.8630.
USD JPY, “US Dollar vs Japanese Yen”
Yen is falling down; market is forming another descending wave with target at level of 100.00. We think, today price may reach level of 101.00, return to level of 102.10, and then continue moving downwards to reach main target.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar broke its consolidation channel downwards and tested it from below. We think, today price may continue moving downwards to reach level of 0.9080.
USD RUB, “US Dollar vs Russian Ruble”
Ruble wasn’t traded due to the holidays in Russia. After market opening, pair is expected to continue consolidating inside triangle pattern. Main scenario implies that price may continue falling down with target at level of 34.80. Later, in our opinion, instrument may start new ascending movement towards level of 37.50.
XAU USD, “Gold vs US Dollar”
Gold is still forming ascending impulse. We think, today price may continue growing up to reach level of 1340. Later, in our opinion, instrument may fall down towards level of 13010 and then start new ascending movement to reach level of 1350.
RoboForex Analytical Department