Analysis for April 8th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming the third structure of flag
correctional pattern. We think, today the price may continue consolidating as a downside continuation pattern and then fall towards level of 1.0655.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still under pressure and continues moving downwards. We think, today the price may reach level of 1.4765 and then grow to return to level of 1.4874 (to test it from below). After that, the market may continue falling inside the downtrend to reach the target at level of 1.4400.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still growing; right now the pair is forming a consolidation channel as an upside continuation pattern. We think, this structure may continue up to level of 0.9780 and be considered as a part of flag
USD JPY, “US Dollar vs Japanese Yen”
Yen is also forming flag
correctional pattern. We think, today the price may grow to reach level of 120.60 and then fall towards level of 119.05. After that, the market may form the fifth structure of flag
with the target at level of 121.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside an ascending structure towards level of 0.7730. After reaching it, the pair may return to level of 0.7630, thus defining the borders of a new consolidation channel. If the channel is broken upwards, the price may grow towards level of 0.7930; if downwards – reach a new low at level of 0.7510.
USD RUB, “US Dollar vs Russian Ruble”
In case of Ruble, the market was opened with a gap down today. We think, today the price may continue forming the fifth wave with the target at level of 44.00. However, an alternative scenario implies that the pair may form a correction towards level of 58.00 and then fall to reach its local target at level of 48.00.
XAU USD, “Gold vs US Dollar”
Gold has broken its ascending channel and right now is consolidating here; this consolidation channel may be considered as a downside continuation pattern. We think, today the price may reach level of 1195 and then return to level of 1210. After that, the market may continue falling inside the downtrend towards the target at level of 1113.
RoboForex Analytical Department