Analysis for June 25th, 2013
Euro reached new minimums and right now is moving near them. We think, today the price may form an ascending structure to return to the level of 1.3175 and then start a new descending movement towards the target at 1.2900.
Pound reached new minimums and right now is moving towards the second target at the level of 1.5485. We think, today the price may form another descending structure, the third one, towards the third target at the level of 1.5230.
Franc is still moving inside an expanding consolidation channel. We think, today the price may fall down to the level of 0.9300 and then start forming a new ascending structure towards the target at 0.9440.
The USD/JPY currency pair continues forming a correctional wave; right now the market is consolidating inside a descending structure with the target at 96.65. We think, today the price may complete this correction by moving upwards and reaching the level of 99.15. Later, in our opinion, the pair may start forming a new descending wave.
Australian Dollar is still moving close to its minimums and forming a consolidation channel. We think, today the price may continue moving downwards inside this channel; the next target at 0.8900. Later, in our opinion, the pair may form a slight descending correction towards the level of 0.9280 and then continue falling down towards the target at 0.8800.
Gold continues moving near its minimums; the market is forming a continuation structure inside a descending wave with the target at 1263. We think, today the price may return to the level of 1285 and then complete this wave by falling down and reaching the level of 1250. Later, in our opinion, the instrument may form a pivot pint and start a new ascending wave with the target at 1590.
RoboForex Analytical Department