Analysis for April 16th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar has completed an ascending impulse as a five-wave structure. We think, today the price may break an ascending channel and the minimum of this impulse. The target of this decline is at level of 1.0300.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has completed an ascending impulse, which may be considered as a correction. We think, today the price may break an ascending channel of this impulse and then continue falling towards the main target at level of 1.4400.
USDCHF, “US Dollar vs Swiss Franc”
Franc has completed a descending structure, which may be considered as a correction. We think, today, the price may break the channel of this correction and then start forming an ascending wave to reach level of 0.9930.
USDJPY, “US Dollar vs Japanese Yen”
Yen has reached the target of its descending wave. We think, today the price may break this correctional channel and start forming another ascending wave with the target at level of 121.00. After that, the pair may continue falling towards level of 117.40.
AUDUSD, “Australian Dollar vs US Dollar”
Although Australian Dollar extended its ascending structure, it formed this structure inside the correction. We think, today the price may form another descending structure with the target at level of 0.7510.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is still moving downwards with the target at level of 48.50. We think, today the price may reach it and then start a correction towards level of 54.00. After that, the market may resume falling to reach the target at level of 44.00. An alternative scenario implies that the pair may continue forming this descending wave without any corrections.
XAUUSD, “Gold vs US Dollar”
Gold is still forming a consolidation channel and may break it downwards by the first descending impulse. The target of this structure is at level of 1168. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The main target is at level of 1113.
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