Analysis for April 20th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar has extended its ascending wave and formed a descending impulse. We think, today the price may break the minimum and then return to 1.1300, thus defining the borders of another consolidation channel. If the channel is broken upwards, the pair may grow to reach 1.1570; if downwards – continue falling towards 1.1200.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has completed its ascending structure and right now is moving downwards. We think, today the price may reach 1.4200 and then return to 1.4300 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach 1.3750.
USDCHF, “US Dollar vs Swiss Franc”
Franc has reached the target of the correction and formed the first ascending impulse. We think, today the price may break the maximum of this impulse, grow towards 0.9650, and then return to 0.9600, thus forming another consolidation channel. If the channel is broken upwards, the pair may reach 0.9735; if downwards – fall towards 0.9474.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still consolidating. According to the main scenario, the price may continue moving downwards. The next target is at 106.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is forming a descending impulse. We think, today the price may fall towards 0.7700 and then return to 0.7760, thus forming another consolidation channel. After the channel is broken downwards, the pair may form a new descending wave with the target at 0.7400.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving near the minimum of its third descending wave. We think, today the price may reach 65.00 and then grow towards 68.00, thus forming another consolidation channel. If the channel is broken upwards, the pair may continue forming the fourth wave to return to 72.50; if downwards – continue falling inside the downtrend towards 60.00.
XAUUSD, “Gold vs US Dollar”
Gold has broken its consolidation channel downwards and right now is falling. We think, today the price may fall to reach 1238 and then return to 1248, thus defining the borders of a new consolidation range. If the channel is broken downwards, the pair may fall to reach 1220; if upwards – return to 1260. And all these movements are taking place inside the consolidation channel from the daily chart.
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