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.
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