Analysis for March 26th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is moving inside a narrow consolidation channel near the top of its ascending wave. We think, today the price may fall towards level of 1.0767, thus forming a new consolidation channel. The direction the pair leaves this channel will be very important. If the market breaks this channel upwards (an alternative scenario), the correction may continue up to level of 1.2250 and the next target will be at level of 1.13080. if downwards (the main scenario) – continue falling inside the downtrend. However, the descending structure may reach new historic lows.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is also consolidating near the top of its ascending wave. We think, today the price may fall to break the minimum and continue moving downwards to reach level of 1.4650. This movement may be considered as a part of a descending wave with the target is at level of 1.4400. However, in case the pair breaks this channel upwards (an alternative scenario), it may form a correction towards level of 1.5360.
USDCHF, “US Dollar vs Swiss Franc”
Franc has reached the target of its descending structure. We think, today the price may continue forming another consolidation channel. If the market breaks this channel upwards, it may form an ascending structure to reach level of 0.9900, thus forming another consolidation channel. If this new channel is also broken upwards, the pair may continue growing inside the uptrend. However, if the channel is broken downwards, the market may start a correction towards level of 0.9254.
USDJPY, “US Dollar vs Japanese Yen”
Yen continues forming a descending structure towards level of 118.95. Later, in our opinion, the market may return to level of 119.92 and then start forming a consolidation channel. If the market breaks this channel upwards, it may grow to reach level of 123.00; if downwards – continue falling towards level of 117.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is moving downwards and forming the first descending impulse. We think, today the price may reach level of 0.7787 and then return to level of 0.7840, thus forming a new consolidation channel. If the market breaks this channel upwards, it may continue growing to reach level of 0.7963.
USDRUB, “US Dollar vs Russian Ruble”
Ruble has reached the target of another structure to expand its consolidation channel. We think, today the price may return to level of 58.55 and then start falling to reach the target of the fifth wave at level of 44.00. Also, the pair may expand its consolidation range again and reach level of 50.50.
XAUUSD, “Gold vs US Dollar”
Gold is forming an upside continuation pattern and extending the current wave. We think, today the price may reach level of 1210. After that, the market may form the fifth descending wave towards level of 1113.
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