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Forex Technical Analysis 22.06.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for June 22nd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is moving upwards. The market may choose to move according to an alternative scenario and reach level of 1.1522. Until the problem of Greece is solved, the regulator will try to take measures to prevent this pair from falling. In this case, the current ascending correctional movement will continue.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming an ascending structure; the pair hasn’t formed a correction yet. We think, today, the price may expand another consolidation channel upwards to reach level of 1.5952. if the pair tests level of 1.5920 from above and reaches a new top, the market may continue growing towards level of 1.6170. However, such ascending structure without corrections may be influenced by the fundamental background and the price may start falling inside the downtrend very fast after the decision of Green is taken.

USD CHF, “US Dollar vs Swiss Franc”

Franc has rebounded from level of 0.9243 and right now continues falling. Such structure implies that the price may continue to strengthen towards the target at level of 0.8940. We think, today, the price may expand its consolidation channel towards level of 0.9077 and then return to level of 0.9243. Later, in our opinion, the market may continue falling to reach the above-mentioned target.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still forming a consolidation channel. We think, today, the price may break it downwards to reach level of 122.22, form another consolidation channel, and continue falling to reach level of 120.22. Later, in our opinion, the market may return to level of 122.22 to test it from below.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has rebounded from level of 0.7745 and right now continues growing. Such structure implies that the price may expand its consolidation channel towards level of 0.7870, thus forming a continuation pattern to reach level of 0.7919. After that, the pair may fall again to return to level of 0.7805.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is moving upwards and forming the fifth wave towards level of 58.50. We think, today, the price may fall to reach level of 53.16. After that, the market may start growing towards level of 55.83.

XAU USD, “Gold vs US Dollar”

Gold is falling. We think, today, the price may reach level of 1189 and then test level of 1197 from below. After that, if the price reaches a new low, the downtrend will continue towards level of 1113. Al alternative scenario implies that if the market breaks its consolidation channel upwards and reaches a new high, the correction may continue up to level of 1220.

RoboForex Analytical Department

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