Article By RoboForex.com
Analysis for April 21st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its ascending channel and reached its first target. We think, today the price may return to 1.1340 to test it from below. After that, the pair may continue falling to reach 1.1200.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has broken the minimum of its first descending impulse. We think, today the price may expand the trading range and reach the target at 1.4272. Later, in our opinion, the market may return to 1.4350 and then continue falling towards 1.4200.
USD CHF, “US Dollar vs Swiss Franc”
Franc has almost reached the target of its ascending structure. The structure of the fifth wave implies that the price may form another ascending structure from 0.9670 to 0.9755. Later, in our opinion, the market may form a wide flag pattern as a correction with the target at 0.9617.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving inside the flag correctional pattern and extending its fifth wave. We think, today the price may fall to reach 107.60, form a continuation pattern, and the continue falling inside the downtrend towards 104.00.
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AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues consolidating near the top without any particular direction. We think, today the price may break this consolidation channel downwards and return to 0.7600.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is forming the third descending wave. Taking into account a steady growth of the oil prices, we think today the price may reach 65.00. After that, the pair may be corrected to return to 69.00 (at least).
XAU USD, “Gold vs US Dollar”
Gold is moving to rebound from 1240 upwards. Possibly, today the price may reach 1263, thus completing another ascending structure. Later, in our opinion, the market may fall towards 1195 inside the fifth wave.
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.
