Analysis for April 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has reached the target of the correction and formed the flag pattern. We think, today the price may break the channel of this correction. The market is expected to start falling towards 1.1200.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving in the center of the wide consolidation channel, which is taking the form of the triangle pattern. According to the main scenario, the price may break the channel downwards and reach 1.3750.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving at the bottom of the consolidation channel. We think, today the price may grow towards the top, break the upside border, and then reach 0.9740. After that, the pair may return to 0.9600.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating. According to the main scenario, the price may continue moving downwards. The next target is at 106.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has reached the target of another ascending wave. We think, today the price may consolidate and form a reversal pattern. The pair is expected to start falling towards 0.7620.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble has formed an ascending structure and corrected it. We think, today the price may form another ascending wave, the third one, to continue the correction towards the target at 72.50. An alternative scenario suggests that the pair may try to reach new lows at 65.00 and then be corrected upwards to reach the above-mentioned target.
XAU USD, “Gold vs US Dollar”
Gold has finished an ascending wave and formed another descending impulse. We think, today the price may break 1229 downwards and fall to reach 1216. The market is expected to form a wide consolidation channel as a downside continuation pattern. The next target is at 1195.
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