Analysis for April 15th, 2016
EURUSD, “Euro vs US Dollar”
After forming another descending impulse, Eurodollar has started another consolidation channel. We think, today the price may break its minimums and reach 1.1200. However, if the channel is broken upwards, the pair may reach 1.1300. Later, in our opinion, the market may continue falling inside the downtrend.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is forming a descending structure towards 1.4000. Later, in our opinion, the market may form another consolidation channel, break it downwards, and then continue falling to reach 1.3750.
USDCHF, “US Dollar vs Swiss Franc”
After forming another ascending impulse, Franc has started another consolidation channel. If the channel is broken upwards, the pair may reach 0.9725; if downwards – be corrected towards 0.9610.
USDJPY, “US Dollar vs Japanese Yen”
Yen has rebounded from 109.00 and right now is forming another ascending structure with the target at 110.00 to complete the correction. After that, the pair may start forming another descending wave towards 104.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar hasn’t been able to form a descending structure and reached a new high instead. We think, today the price may reach 0.7750, thus finishing this ascending structure. Later, in our opinion, the market may start falling towards 0.7490.
USDRUB, “US Dollar vs Russian Ruble”
Russian Ruble is falling. We think, today the price may reach 65.00 and then start a new correction with the target at 72.50 (at least). After that, the pair may form the fifth descending wave towards 60.00.
XAUUSD, “Gold vs US Dollar”
Gold has almost reached 1242. We think, today the price may return to this level. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1200.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
USD/JPY briefly recaptures 160.00, then pulls back sharply
Having briefly recaptured 160.00, USD/JPY pulls back sharply toward 159.00 on potential Japanese FX intervention risks. The Yen tumbles amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
AUD/USD extends gains above 0.6550 on risk flows, hawkish RBA expectations
AUD/USD extends gains above 0.6550 in the Asian session on Monday. The Aussie pair is underpinned by increased bets of an RBA rate hike at its May policy meeting after the previous week's hot Australian CPI data. Risk flows also power the pair's upside.
Gold stays weak below $2,350 amid risk-on mood, firmer USD
Gold price trades on a softer note below $2,350 early Monday. The recent US economic data showed that US inflationary pressures stayed firm, supporting the US Dollar at the expense of Gold price. The upbeat mood also adds to the weight on the bright metal.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.