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Forex Technical Analysis & Forecast 08.06.2017 (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 formed another consolidation range: one three-wave ascending structure and one three-wave descending structure. Right now, it is moving in the very center of the range, and may both fall to reach 1.1200 and grow towards 1.2888. Possibly, the pair may reach 1.1305. We should note one more time that the third ascending wave has been completed. The main scenario implies that the market may form a reversal pattern and start a new descending correction with the target at 1.0900, at least.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed another ascending structure and right now is being corrected to return to 1.2898. Later, the market may grow towards 1.3050. All ascending structures may be considered as an alternative scenario only. The main scenario remains the same and implies that the instrument may be corrected to the downside to reach 1.2700, at least.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still consolidating near its lows. We think, today the price may grow to reach 0.9686. Later, in our opinion, the market may fall towards 0.9646. if the pair breaks this consolidation range upwards, it may reach 0.9900. The first target is at 0.9760.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming the third descending wave. Possibly, the price may reach 108.87. After that, the instrument may be corrected towards 110.47 and then form the fifth wave with the target at 106.60.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has started another descending impulse. Possibly, today the price may reach 0.7513 and then grow towards 0.7540. Later, in our opinion, the market may break the low and then continue moving downwards with the target at 0.7200.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has broken its consolidation range upwards. We think, today the price may test 56.69 from above and then grow to reach 57.20. After that, the instrument may fall towards 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold is falling. Possibly, today the price may reach 1280. Later, in our opinion, the market may grow towards 1288 and then fall with the target at 1267.

 

BRENT

Brent has broken its consolidation range to the downside. Possibly, today the price may test 49.22 from below. After that, the instrument may fall to reach 47.78 and then move upwards towards the target at 51.30.

 

RoboForex Analytical Department

 



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