Analysis for April 5th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside the narrow consolidation channel at the top of its ascending wave. If the pair breaks the channel downwards, it may fall towards 1.1200; if upwards – continue growing to reach 1.1570 (an alternative scenario). Later, in our opinion, the market may continue falling with the target at 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is moving downwards. Although the market attempted to start a correction, we think the price may reach 1.4340. However, the main scenario suggests that the pair is expected to move downwards to reach 1.4135. Possibly, it may form a large triangle
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside the consolidation channel at the lows of its descending wave. If the pair breaks the channel downwards, it may reach 0.9475 (an alternative scenario); if upwards – grow towards 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues falling with the target at 110.30. After reaching this level and completing the structure, the market may return to 112.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has almost completed a downside continuation pattern. The local target is at 0.7530. After that, the pair may test 0.7605 from below and then fall to reach 0.7491.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is consolidating at its lows. Possibly, the price may grow to reach 70.50. However, the main scenario implies that the market may continue forming the third descending wave with the target at 65.00.
XAU USD, “Gold vs US Dollar”
Gold is forming the third descending wave. Possibly, the price may try to reach 1234 once again and the return to 1196. In this case, later the market may form a continuation pattern near 1222. The predicted target is at 1174.
RoboForex Analytical Department
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