Analysis for April 16th, 2014
EUR USD, “Euro vs US Dollar”
Euro completed the first structure of correction. We think, today price may return to level of 1.3850. Later, in our opinion, instrument may continue falling down towards level of 1.3750.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming ascending correction towards previous descending structure. Later, in our opinion, instrument may continue falling down towards level of 1.6640.
USD CHF, “US Dollar vs Swiss Franc”
Franc is correcting previous ascending structure. Later, in our opinion, instrument may form another ascending structure to reach level of 0.8835.
USD JPY, “US Dollar vs Japanese Yen”
Yen completed another wave of five-wave ascending structure. We think, today price may fall down towards level of 101.70 and then continue forming ascending structure to return to level of 102.70.
AUD USD, “Australian Dollar vs US Dollar”
Australian finished descending structure. We think, today price may return to level of 0.9395 and then continue falling down towards level of 0.9286.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving inside the third ascending wave with target at level of 36.20. We think, today price may fall down towards level of 35.99 and then continue growing up towards above-mentioned target. Later, in our opinion, instrument may move downwards to form the fourth wave with target at level 35.77 and then start the fifth wave of this correction with target at level of 36.60.
XAU USD, “Gold vs US Dollar”
Gold finished descending structure, which may be considered as correction towards previous ascending wave. We think, today price may continue moving upwards inside the third wave to reach target at level of 1357.
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Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
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