Analysis for April 18th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar is being corrected towards 1.1330. Later, in our opinion, the market may form another descending structure to reach 1.1200 and then return to 1.1330.
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 extend this wave to reach 1.3750.
USDCHF, “US Dollar vs Swiss Franc”
Franc is forming another consolidation channel. We think, today the price may grow towards 0.9735 and then fall to reach 0.9600.
USDJPY, “US Dollar vs Japanese Yen”
Being under pressure, Yen is moving downwards. We think, today the price may fall to reach 106.00 and then form another consolidation channel to return to 108.60. After that, the pair may continue falling towards 104.00.
AUDUSD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar is falling as well. We think, today the price may reach 0.7600. Al alternative scenario implies that the pair may grow towards 0.7770 at first and then continue falling towards 0.7600.
USDRUB, “US Dollar vs Russian Ruble”
We think, today Russian Ruble may form an ascending 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 is forming an ascending structure with the target at 1242. Later, in our opinion, the market may fall towards 1195 and then return to 1239.
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Editors’ Picks
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GBP/USD retreats to 1.2500 on renewed USD strength
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Gold struggles to hold above $2,350 following US inflation
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