Analysis for June 16th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving upwards in order to correct the previous descending wave. We think, today the price may reach 1.1300 and complete this correction. Later, in our opinion, the market may form another consolidation channel, break it, and then continue falling inside the downtrend to reach 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving near 1.4165; this structure may be considered as a downside continuation pattern. The next downside target is at 1.4000. After that, the pair may return to 1.4330 and then fall to reach 1.3900.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating. The main scenario implies that the uptrend may continue. We think, today the price may test its lows. After rebounding from them, the pair may break this consolidation range upwards and then continue growing to reach the first target at 0.9730.
USD JPY, “US Dollar vs Japanese Yen”
Yen has reached the local target of descending wave. We think, today the price may form another consolidation range. The pair is expected to break it upwards and start a new correction with the target at 113.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is falling. Possibly, the price may move upwards to reach 0.7447. After that, the pair may continue falling inside the downtrend to reach 0.7130.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble has broken its consolidation channel downwards and right now is still falling. We think, today the price may reach 64.50 as a correction of the previous ascending impulse. Later, in our opinion, the market may form another ascending impulse with the target at 67.67.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is growing and may reach 1318. Later, in our opinion, the market may form another consolidation channel, break it downwards, and reach new lows. The first target is at 1250.
RoboForex Analytical Department