Analysis for April 12th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is consolidating above the center of the channel. We think, today the price may break it upwards and move according to an alternative scenario to reach 1.1570. The main scenario implies that the market may fall towards the channel’s downside border at 1.1325.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has reached the target of the correction. We think, today the price may form another descending structure towards 1.4000. Later, in our opinion, the market may form another consolidation channel, break it downwards, and then continue moving inside the downtrend to reach 1.3820.
USDCHF, “US Dollar vs Swiss Franc”
Franc is consolidating. We think, today the price may choose to move according to an alternative scenario and reach 0.9475. After that, the pair may grow towards 0.9600.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming another consolidation channel. We think, today the price may fall to reach 106.00. After that, the pair may consolidate for a while. The next downside target is at 104.30.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still being corrected with the target at 0.7665. We think, today the price may reach the target to complete this correction and then start falling towards 0.7470.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling to reach 65.00. Later, in our opinion, the market may be corrected towards 72.50 and then continue moving downwards with the target at 60.00.
XAUUSD, “Gold vs US Dollar”
Gold has extended its ascending structure. We think, today the price may complete the correction, start consolidating, and form a reversal pattern. The market is expected to continue moving downwards. The next target is at 1222.
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