Analysis for June 28th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving without any particular direction as the market is waiting for the European Union summit in anticipation of suggestions how to improve the economic climate in the Eurozone. The main scenario remains the same and implies that the price may continue falling inside the downtrend with the target at 1.0830.
GBP USD, “Great Britain Pound vs US Dollar”
Pound reached a new low again. The regulator may try to make the price form a consolidation range and return to 1.3480. However, the main scenario implies that the price may fall reach the main target at 1.3100 and then be corrected towards 1.3800. Later, in our opinion, the market may continue falling to reach 1.2650.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving upwards with the target at 0.9840. After that, the pair may form another consolidation range to return to 0.9700. Later, in our opinion, the market may grow to break its highs and form another descending wave with the target at 1.0500.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating again without any particular direction. We think, today the price may fall towards 98.92 and then return to 101.00. Later, in our opinion, the market may continue falling to reach 98.20.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is moving downwards with the target at 0.7266. After that, the pair may return to 0.7388 and then continue falling to reach 0.7130.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is moving upwards with the target at 66.50 and then may return to 65.00. After that, the pair may grow to reach 69.00. This entire ascending structure is considered as a correction. Later, in our opinion, the market may start falling with the target at 60.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating above the broken top. Such structure may be considered as an upside continuation pattern. We think, today the price may continue growing to reach 1383.
RoboForex Analytical Department