Analysis for May 5th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has defined the border of its new consolidation range and right now is moving exactly in the center. We think, today the price may break the range downwards. The downside target is at 1.1381. After that, the pair may be corrected to return to 1.1498.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the target of its first descending wave. We think, today the price may be corrected towards 1.4615 and then break the minimum of the first descending wave. The local target is at 1.4300. An alternative scenario implies that the market may continue growing to reach new highs.
USD CHF, “US Dollar vs Swiss Franc”
Franc broke its descending channel and formed an upside continuation pattern. By now, the pair has broken its trading range upwards. The upside target is at 0.9645. Later, in our opinion, the market may be corrected towards 0.9545.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving in the center of its consolidation channel. We think, today the price may rebound from the channel’s center downwards and continue falling inside the downtrend to reach 104.00. After that, the pair may return to 112.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is falling with the target at 0.7425. After that, the pair may return to the center of the consolidation range at 0.7528 and then continue falling to reach the local target at 0.7340.
USD RUB, “US Dollar vs Russian Ruble”
We think today, Russian Ruble may reach 65.25. Later, in our opinion, the market may be corrected towards 69.00.
XAU USD, “Gold vs US Dollar”
Gold has defined the border of its new consolidation channel. After breaking the minimum, the instrument may reach the local target at 1265 and then return to 1283.
RoboForex Analytical Department