Analysis for April 24th, 2014
EUR USD, “Euro vs US Dollar”
Euro is trying to return to level of 1.3857. After reaching it, price may start forming another descending structure with predicted target at level of 1.3750. During this descending movement, pair is expected to form continuation pattern, which may help us to specify the target.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving downwards to reach level of 1.6756. Later, in our opinion, instrument may start new ascending movement towards level of 1.6905 and then start more serious correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc is falling down towards level of 0.8800. After reaching it, price may grow up to reach level of 0.8880 and then return to level of 0.8830.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming descending structure with target at level of 102.15. Later, in our opinion, instrument may move upwards to reach level of 103.10and then continue falling down towards level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming ascending structure to return to level of 0.9375; market is expected to form five-wave bearish flag pattern. Later, in our opinion, instrument may continue moving inside descending trend towards level of 0.8400.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues moving upwards to reach level of 35.82. Later, in our opinion, instrument may form another descending structure towards level of 34.78 and then continue growing up to reach level of 36.60.
XAU USD, “Gold vs US Dollar”
Gold completed the first ascending impulse and corrected it. We think, today price may grow up to reach level of 1300 and then continue forming this ascending wave with target at level of 1357.
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Gold clings to strong daily gains above $2,380
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
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