Analysis for June 16th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to continue moving upwards. Possibly (an alternative scenario), the price may reach level of 1.1520. However, the mains scenario is still the same and implies that the pair may continue forming its descending wave. The first target is at level of 1.1100. After reaching it, the market may return to level of 1.1200 and then continue falling inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has made a fast ascending movement, extended its ascending structure, and reached the target. We think, today, the price may form a descending structure towards level of 1.5406 (at least) and then (an alternative scenario) form another ascending structure to reach level of 1.5638. The main scenario remains the same - the market may continue falling inside the downtrend towards level of 1.5050.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming a consolidation channel. We think, today, the price test the lower border of triangle
pattern. Later, in our opinion, the market may grow to break the channel. The target is at level of 0.9545.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating without any particular direction. We think, today, the price may test level of 124.20 from below. Later, in our opinion, the market may form another descending structure with the target at 122.22.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today, the price may grow towards level of 0.7820 to test it from below. After that, the pair may fall towards level of 0.7647. Possibly, the market may break this level and continue moving downwards to level of 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues falling. We think, today, the price may reach level of 52.50. Later, in our opinion, the market may start forming the fifth ascending wave with the target at level of 58.50.
XAU USD, “Gold vs US Dollar”
Gold continues forming a consolidation channel, which may be considered as triangle
pattern. If later this channel is broken if upwards – the market may continue the current correction to level of 1197; if downwards – continue falling inside the downtrend towards level of 1113.
RoboForex Analytical Department