Analysis for April 7th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has formed the triangle
consolidation pattern and broken its upside border. In fact, the pair is likely to continue growing according to an alternative scenario towards 1.1570 and complete this ascending wave. Later, in our opinion, the market may start falling with the target at 1.1200.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached new lows, extended the current wave downwards, and reached the target. In fact, after the head & shoulders
pattern, the pair may form another descending impulse towards the target at 1.3750. We think, today the price may consolidate around 1.4162. If the market breaks the channel upwards, it may be corrected towards 1.4298; if downwards – continue falling to reach the above-mentioned target.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is falling; the market has broken its consolidation channel downwards. We think, today the price may choose an alternative scenario and fall towards 0.9472. After that, the pair may move upwards to reach 0.9960.
USD JPY, “US Dollar vs Japanese Yen”
The downtrend continues. We think, today the price may expand its consolidation channel downwards and reach the first target at 106.27. After that, the pair may form another consolidation channel. Later, in our opinion, the market may continue falling inside the downtrend to reach 103.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of the correction at 0.7630. We think, today the price may break this ascending channel. Later, in our opinion, the market may continue falling to reach 0.7492.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving to reach the downside border of its consolidation channel. The price is expected to break the minimum and continue falling towards 65.00. Later, in our opinion, the market may grow to reach 72.50.
XAU USD, “Gold vs US Dollar”
Gold is moving in the center of the consolidation range. We think, today the price may fall towards 1196 and then test 1222 from below. Later, in our opinion, the market may continue falling with the target at 1175.
RoboForex Analytical Department