Analysis for April 27th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still forming an ascending wave, which may be considered as a correction. We think, today the price may consolidate, form a reversal pattern to break the minimum of this consolidation range and the ascending channel as well. Later, in our opinion, the market may form another descending structure to reach level of 1.0500.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has reached its upside target and right now is moving close to its highs. We think, today the price may consolidate and form a reversal pattern. Then the market may break this consolidation channel downwards and then continue falling inside the fifth descending wave towards level of 1.4400.
USDCHF, “US Dollar vs Swiss Franc”
Franc is still forming a consolidation channel. We think, today the price may break it upwards and then form an ascending structure to reach level of 0.9930.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still consolidating. If the price breaks this consolidation channel downwards – the market may continue falling to reach level of 117.44; if upwards – form an ascending structure towards level of 121.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming an ascending wave. . We think, today the price may reach a new high and level of 0.7861. After that, the pair may consolidate for a while to break the minimums, form a reversal pattern, and start forming another descending wave with the target at level of 0.7510.
USDRUB, “US Dollar vs Russian Ruble”
Ruble continues falling. We think, today the price may break the current low, consolidate and form a downside continuation pattern towards level of 46. Possibly, this structure may be extended towards level of 44. After that, the market may start a correction to return to level of 58.
XAUUSD, “Gold vs US Dollar”
Gold is moving right in the center of its descending wave with the first target at level of 1168. Possibly, today the price may reach this level and then test level of 1190 from below. The current wave is considered the fifth one inside the downtrend with the main target at level of 1113.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
AUD/USD rises to two-day high ahead of Aussie CPI
The Aussie Dollar recorded back-to-back positive days against the US Dollar and climbed more than 0.59% on Tuesday, as the US April S&P PMIs were weaker than expected. That spurred speculations that the Federal Reserve could put rate cuts back on the table. The AUD/USD trades at 0.6488 as Wednesday’s Asian session begins.
EUR/USD holds above 1.0700 on weaker US Dollar, upbeat Eurozone PMI
EUR/USD holds above the 1.0700 psychological barrier during the early Asian session on Wednesday. The weaker-than-expected US PMI data for April drags the Greenback lower and creates a tailwind for the pair.
Gold price cautious despite weaker US Dollar and falling US yields
Gold retreats modestly after failing to sustain gains despite fall in US Treasury yields, weaker US Dollar. XAU/USD struggles to capitalize following release of weaker-than-expected S&P Global PMIs, fueling speculation about potential Fed rate cuts.
Ethereum ETF issuers not giving up fight, expert says as Grayscale files S3 prospectus
Ethereum exchange-traded funds theme gained steam after the landmark approval of multiple BTC ETFs in January. However, the campaign for approval of this investment alternative continues, with evidence of ongoing back and forth between prospective issuers and the US SEC.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Fed might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.