Analysis for April 6th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating. We think, today the price may fall towards 1.1300, thus forming a descending structure. Later, in our opinion, the market may return to 1.1370. If the pair breaks the channel downwards, the downtrend may continue; if upwards – the pair may grow to reach 1.1570 (an alternative scenario).
GBP USD, “Great Britain Pound vs US Dollar”
Pound has completed the structure of its descending wave. We think, today the price may consolidate. If the pair breaks the channel downwards, the downtrend may continue up to 1.3750; if upwards – grow to return to 1.4300.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside the consolidation channel at the lows of its descending wave; the market has almost formed the inverted double top
pattern. If the pair breaks the pattern’s upper border, it may return to 0.9700; if lower border – fall towards 0.9472 (an alternative scenario).
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its descending wave and right now is consolidating. If the pair breaks the channel upwards, it may be corrected towards 112.50; if downwards – continue falling to reach 108.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is falling with the target at 0.7492. Right now, the market is being corrected towards 0.7605. After that, the pair may continue falling to reach the above-mentioned target.
USD RUB, “US Dollar vs Russian Ruble”
We think, Russian Ruble may continue falling towards 65.00. Later, in our opinion, the market may be corrected to reach 72.50 and then start forming the fifth structure with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is forming the third descending wave. Possibly, today the price may reach 1200 and then test 1222 from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1174.
RoboForex Analytical Department
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