Analysis for April 29th, 2014
EUR USD, “Euro vs US Dollar”
Euro is moving inside ascending structure with target at 1.4100. We think, today price may continue growing up to reach level of 1.3990 and then start correction to return to level of 1.3885. Later, in our opinion, instrument may continue its ascending movement towards level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is growing up towards level of 1.6095; market may reach it and thus complete another five-wave structure. Later, in our opinion, instrument may start more serious correction towards level of 1.6687 and form bullish flag
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming descending structure. We think, today price may reach level of 0.8758, consolidate for a while, and then form continuation pattern to continue descending trend. Next target is at level of 0.8630.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still being corrected. We think, today price may move upwards to reach level of 103.10. Right now, market is forming the fifth wave of this ascending structure. Later, in our opinion, instrument may start another descending wave towards level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar completed its descending wave with extension
. We think, today price may consolidate to form reversal pattern, and start new correction to return to level of 0.9350. Later, in our opinion, instrument may form the third descending wave with target at level of 0.9070.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues forming ascending structure with target at level of 36.28. Later, in our opinion, instrument may start falling down towards level of 34.78 and then continue growing up to reach level of 37.50.
XAU USD, “Gold vs US Dollar”
Gold is still correction its first ascending impulse. We think, today price may fall down towards level of 1288.85 and then form the third ascending wave with target at level of 1325. Later, in our opinion, instrument may return to level of 1306 and then start new ascending movement to reach level of 1357.
RoboForex Analytical Department