Analysis for April 8th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating around 1.1360; it moves according to an alternative scenario towards 1.1570. If the market breaks the channel upwards, it may continue growing and reach the target of this wave; if downwards – start a new correction with the target at 1.1250.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving close to the minimum of its descending wave. We think, today the price may expand this consolidation channel downwards to reach 1.3948 and then test 1.4055 from below. Later, in our opinion, the market may fall to reach the local target at 1.3750.
USD CHF, “US Dollar vs Swiss Franc”
Franc is consolidating. We think, today the price may break this consolidation channel downwards fall towards 0.947. After that, the pair may continue moving inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming another consolidation channel. After breaking the minimums, the pair may continue falling inside the downtrend to reach 106.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the fifth structure of its descending wave; the target is at 0.7470. Later, in our opinion, the market may be corrected towards 0.7600 and then continue falling inside the downtrend to reach 0.7200.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble falling. We think, today the price may break the minimum of the consolidation channel. The price is expected to continue falling towards 65.00. Later, in our opinion, the market may be corrected towards 72.50 and then form the fifth structure to reach 60.00.
XAU USD, “Gold vs US Dollar”
Gold has completed the five-wave ascending correction; which may be considered as a part of a downside continuation pattern. We think, today the price may form another descending structure to reach 1200 and then return to 1220. Later, in our opinion, the market may continue falling with the target at 1176.
RoboForex Analytical Department
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