Analysis for April 13th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating; the market has rebounded from its upside border and right now is moving towards a downside one. We think, today the price may reach 1.1310. Later, in our opinion, the market may move upwards and (an alternative scenario) to reach 1.1570. After that, the pair may fall towards 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed a descending impulse and corrected it. We think, today the price may form another descending structure towards 1.4057. Later, in our opinion, the market may form another consolidation channel and then continue moving inside the downtrend to reach 1.3750.
USD CHF, “US Dollar vs Swiss Franc”
Franc is consolidating. We think, today the price may grow towards the channel’s upside border at 0.9620. Later, in our opinion, the market may form another descending structure to reach 0.9470. After that, the pair may start growing towards 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming another consolidation channel. We think, today the price may reach 109.00. After that, the pair may fall towards the channel’s downside border, break it, and then continue moving downwards to reach 106.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming a descending impulse. We think, today the price may break this ascending channel and move to reach 0.7492.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Russian Ruble is falling. We think, today the price may reach 65.00. Later, in our opinion, the market may form another consolidation range and a reversal pattern. The upside target is at 72.50 (at least).
XAU USD, “Gold vs US Dollar”
Gold has completed a reversal structure. We think, today the price may fall towards 1222 and then grow to reach 1242. Later, in our opinion, the market may continue falling inside the downtrend. The local target is at 1200.
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.
Australia CPI Preview: Inflation set to remain above target as hopes of early interest-rate cuts fade
An Australian inflation update takes the spotlight this week ahead of critical United States macroeconomic data. The Australian Bureau of Statistics will release two different inflation gauges on Wednesday.