Analysis for April 20th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is attempting to form a continuation pattern, and if the pair breaks it upwards, it may continue forming an ascending wave towards level of 1.0984. But right now, the price is moving below level of 1.1000. Such scenario may be considered as a global continuation structure of the downtrend; the market may start falling inside the downtrend at any moment. The target of another descending movement is at level of 1.0507.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has completed an ascending wave, which may be considered as an ascending correction towards the upper border of the consolidation channel. The whole structure may be considered as a continuation pattern of the downtrend. The main target at level of 1.4400. After the price breaks the ascending channel, it may form a reversal pattern and continue falling inside the downtrend to reach the main target.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still falling. The main scenario implies that the price may grow to reach level of 0.9930. However, right now, the pair is consolidating and today may reach the lower border of this consolidation range at level of 0.9468. Later, in our opinion, the market may form another consolidation channel to return to level of 0.9686.
USD JPY, “US Dollar vs Japanese Yen”
Yen is attempting to continue forming its descending wave. We think, today the price may form a consolidation channel, break it downwards, and reach level of 117.40. If the market breaks the channel upwards, it may form an ascending structure with the target at level of 121.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is consolidating inside its ascending structure. The price may break this consolidation channel upwards and grow to reach level of 0.8000. However, if the price breaks the channel downwards, it may continue moving according to the main scenario, i.e. towards level of 0.7510.
USD RUB, “US Dollar vs Russian Ruble”
Ruble may form a correction to return to level of 54.00 (at least). After that, the market may resume falling to reach the target at level of 44.00.
XAU USD, “Gold vs US Dollar”
We think, today the Gold may grow to reach level of 1212. Later, in our opinion, the market may reach level of 1168 and then continue falling towards level of 1113.
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