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Forex Technical Analysis 01.04.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for April 1st, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has broken 1.1359 upwards and right now is forming an upside continuation pattern. Probably, the market may choose an alternative scenario, which implies that it may reach 1.1570. We think, today the price may reach 1.1420 and then return to 1.1360. After that, the market may grow to expand its trading range upwards.

GBP USD, “Great Britain Pound vs US Dollar”

Pound hasn’t been able to break the top of its trading range; the market has formed the descending impulse and right now is trying to break its low. In fact. The price has defined the borders of another consolidation channel. If the pair breaks the channel downwards, it may continue falling to reach 1.4185; if upwards – extend the wave towards 1.4718 (an alternative scenario).

USD CHF, “US Dollar vs Swiss Franc”

Franc hasn’t been able to form the ascending impulse. After reaching a new low, the pair may choose an alternative scenario to extend this wave towards 0.9475. However, we think, today the price may reach 0.9565 and then return to 0.9615. Later, in our opinion, the market may fall to reach the target and expand its trading range downwards.

USD JPY, “US Dollar vs Japanese Yen”

Yen is moving without any particular direction; the price is forming a narrow consolidation channel. If the pair breaks the channel downwards, it may fall to reach 111.69; if upwards – grow towards 112.75. Later, in our opinion, the market may continue falling with the target at 110.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating at the top of its ascending wave. If the pair breaks the channel upwards, it may extend this structure towards 0.7817 (an alternative scenario); if downwards – fall to reach 0.7545.

USD RUB, “US Dollar vs Russian Ruble”

Being under pressure, Russian Ruble has broken its consolidation channel downwards and right now is falling. The target is at 65.00. However, considering the oil market decline, today the price may be corrected towards 70.50. Later, in our opinion, the market may start another descending movement to reach the above-mentioned target.

XAU USD, “Gold vs US Dollar”

Gold continues moving downwards to reach 1219. Later, in our opinion, the market may form another consolidation channel and then continue falling towards 1195.

RoboForex Analytical Department

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