Analysis for March 31st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is falling and forming the second descending impulse with the target at 1.1300. We think, today the price may continue forming the descending wave towards 1.1260. After that, the market may return to 1.1300 and then continue falling to reach 1.1150.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is falling towards 1.4280. After that, the pair may test 1.4370 from below and then move downwards to reach 1.4130.
USD CHF, “US Dollar vs Swiss Franc”
Franc has reached the target of its descending wave and right now is forming the ascending impulse for the first wave. The target is at 0.9690. Later, in our opinion, the market may fall towards 0.9650 to test it from above and then start another growth to reach 0.9750.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming a descending wave with the target at 111.65. Later, in our opinion, the market may return to 112.75. If the price breaks its lows, it may move downwards to reach 110.30. Otherwise, the pair may grow towards 114.00 and then start another decline inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming a descending impulse with the target at 0.7600. After that, the pair may consolidate and then continue falling towards 0.7545.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving near the bottom of its consolidation range. We think, today the price may grow to reach the channel’s top at 70.50. Later, in our opinion, the market may start another descending movement with the target at 65.00.
XAU USD, “Gold vs US Dollar”
Gold is forming another structure of its descending wave. The target is at 1195. Later, in our opinion, the market may be corrected to return to 1220 and then fall towards 1185.
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