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Forex Technical Analysis & Forecast 05.06.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has broken 1.1252 to the upside and right now is consolidating. Possibly, today the price may move according to an alternative scenario and grow towards 1.1305. However, the main scenario implies that the pair may reverse and continue falling inside the downtrend towards 1.0900. The first target is at 1.1100.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating and forming the Pennant pattern. After breaking it to the upside, the instrument may move according to an alternative scenario and grow towards 1.2970. However, if the price breaks the pattern to the downside, the correction may continue to reach the local target at 1.2760.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has completed the extension. Possibly, today the price may consolidate, break this range to the upside, and then start another ascending correction towards 0.9900. The first target is at 0.9767.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair hasn’t been able to continue its ascending structure and right now is consolidating around 110.47. Possibly, the price may form a downside continuation pattern there. The local target is at 109.26.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair returned to 0.7447. After breaking it upwards, the price may extend this structure towards 0.7510 (an alternative scenario). Later, in our opinion, the market may continue moving downwards to reach 0.7200.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair I still consolidating without any particular direction. Possibly, the price may choose an alternative scenario and reach 57.00. The main scenario implies that the market may fall towards 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold has reached the predicted local target. We think, today the price may be corrected to reach 1267. After that, the instrument may grow to extend this wave towards 1286. Later, in our opinion, the market may start another correction with the target at 1260 and then move upwards to reach 1300.

 

BRENT

Brent has finished the first ascending impulse. Possibly, today the price may fall towards 49.92 and then form the second impulse with the target at 52.20. After that, the instrument may be corrected to reach 51.15 and then grow towards 53.00. All these movements may be considered as the first wave with the target at 53.00.

 

RoboForex Analytical Department

 



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