Analysis for April 24th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has completed another five‐wave ascending structure; the whole structure may be considered as a correction. We think, today the price may form a reversal pattern at current highs. Later, in our opinion, the market may form another descending structure to reach level of 1.0500.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has formed another ascending structure; the whole structure may be considered as a correction. We think, today the price may start forming a reversal pattern to start falling towards level of 1.4400.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming a consolidation channel inside a descending impulse. We think, today the price may grow to reach level of 0.9760 and then form a correction towards level of 0.9600. Later, in our opinion, the price may move upwards to reach level of 0.9930.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still consolidating; the pair has corrected another ascending structure. We think, today the price may break this consolidation channel. If upwards – the market may reach level of 121.00; if downwards – reach level of 117.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming another ascending structure towards level of 0.7830. After that, the pair may form a reversal pattern for a new descending movement. The main target is to reach new lows and level of 0.7510.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues falling. We think, today the price may reach level of 46.00. After that, the market may form another consolidation channel and break it downwards to reach level of 44.00. Possibly, this structure may be extended towards level of 40.00.
XAU USD, “Gold vs US Dollar”
Gold is still forming a consolidation channel. We think, today the price may reach level of 1198. Later, in our opinion, the market may continue falling to break the minimum and expand this channel downwards. The first downside target is at level of 1168.
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Editors’ Picks
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Eurozone inflation stable as the outlook on prices gets increasingly muddied
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