Analysis for April 27th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has completed the correction and right now is forming another descending impulse. We think, today the price may test 1.1315 and then fall to reach 1.1200 (at least). After that, the pair may be corrected towards 1.1315.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has extended its ascending structure; it is attempting to form an upside continuation pattern. In order to confirm the pattern, today the price must test 1.4420 from above. After breaking the maximum, the pair may grow towards 1.4830 (an alternative scenario). However, if the pair breaks 1.4400 downwards, the downtrend will continue.
USD CHF, “US Dollar vs Swiss Franc”
Franc has completed the first structure of the correction; the structure may be considered as the minimum for this correctional wave. Right now, the pair is returning to the center of this descending structure at 0.9756. This trading range may be considered as a consolidation channel. If the channel is broken upwards, the market grow to reach 1.0000; if downwards – the correction may continue up to 0.9620.
USD JPY, “US Dollar vs Japanese Yen”
Yen has finished the descending impulse and corrected it, and right now is falling. We think, today the price may reach a new low and then continue falling inside the downtrend towards 109.00, thus forming the first structure inside another descending wave with the target at 104.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has fallen fast and reached the target of the first descending wave. We think, today the price may be corrected towards 0.7732 to test it from below and then continue falling inside the downtrend with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
We think, today Russian Ruble may reach a new low at 64.00. Later, in our opinion, the market may be corrected towards 69.30 to test it from below.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of the correction. Possibly, the price may form another ascending structure towards 1249. Later, in our opinion, the market may form the third descending wave to reach 1208.
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