Analysis for June 18th, 2013
Euro is still moving inside a narrow trading range near its top; the market couldn’t continue moving upwards. We think, today the price may fall down to break an ascending channel. Later, in our opinion, the pair may form a slight correction and then continue moving downwards to reach the target at 1.300.
Pound reached only the level of 1.5750, which is the minimum of this ascending wave. At the top, the price is forming diamond
reversal pattern. We think, today the pair may start a descending correction towards the level of 1.5320.
Franc is moving inside a narrow consolidation channel. We think, today the price may leave the channel upwards, reach the target at 0.9320, and then start a correction to return to the current levels. Later, in our opinion, the pair may start a new ascending movement towards the main target at 0.9600.
The USD/JPY currency pair continues moving inside a narrow trading range; the market formed triangle
pattern. We think, today the price may leave the pattern upwards and continue its ascending correction. The target is at 99.20, at least.
Australian Dollar completed another descending structure. We think, today the price may start a correction towards the level of 0.9575 and then continue falling down to reach the target at 0.9215.
Gold continues moving downwards inside a narrow trading range; the market formed triangle
pattern once again. We think, today the price may start an ascending structure. However, an alternative scenario implies that the instrument may try test the minimum one more time and only after that start growing up towards the target at 1440.
RoboForex Analytical Department