Article By RoboForex.com
Analysis for April 14th, 2014
EUR USD, “Euro vs US Dollar”
Market was opened with gap down and Euro expanded its consolidation channel downwards. Instrument continues forming descending correction, flag pattern, with target at level of 1.3750. Structure of the pattern will help us to define future scenario.
GBP USD, “Great Britain Pound vs US Dollar”
Market was opened with gap down; Pound is forming the second descending impulse. It looks like market is forming correction towards level of 1.6640. Structure of this correction will help us to define future scenario.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating. We think, today price may form correction as flag pattern and return to level of 0.8840. Structure of the pattern will help us to define future scenario.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still consolidating; market completed continuation pattern. We think, today price may break minimum and fall down towards level of 100.00. Alternative scenario implies that pair may try to break consolidation channel upwards and complete current correction at level of 103.00. Later, in our opinion, instrument may continue moving downwards.
AUD USD, “Australian Dollar vs US Dollar”
Australian is forming descending impulse. We think, today price may reach level of 0.9340 and then return to level of 0.9330. This structure may be considered as head & shoulders reversal pattern. Later, in our opinion, instrument may continue falling down towards level of 0.9150.
USD RUB, “US Dollar vs Russian Ruble”
Market was opened with gap up. Ruble continues moving upwards; we can see head & shoulders reversal pattern. We think, today price may reach the first target at level of 36.20 and then fall down towards level of 35.75.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating near level of 1322; this structure may be considered as continuation pattern. We think, today price may move upwards to reach target at level of 1357. Alternative scenario implies that instrument may expand this consolidation channel downwards as correction towards 1295 and then grow up towards level of 1357.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
