Analysis for June 5th, 2015
Eurodollar has formed a descending impulse. We think, today, the price may form a correction towards level of 1.1304 and then start another descending impulse. The market is expected to form a descending wave with the target at level of 1.0870.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound has broken its ascending channel. We think, today, the price may form another descending structure with the target at level of 1.5051. This wave may be considered as a part of the descending structure towards level of 1.4400.
USD CHF, “US Dollar vs Swiss Franc”Franc is still forming an ascending structure with the target at level of 0.9543. Later, in our opinion, the market may fall again towards level of 0.9430.
USD JPY, “US Dollar vs Japanese Yen”Yen continues consolidating at the top of its ascending wave without any particular direction. Possibly, the pair may move upwards to reach level of 125.80. However, according to the main scenario, the market is expected to form a reversal pattern and start a new descending trend.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar is still moving downwards. We think, today, the price may reach level of 0.7628 and then return to level of 0.7750. Later, in our opinion, the market may resume falling towards level of 0.7510.
USD RUB, “US Dollar vs Russian Ruble”Ruble has reached the minimum target of the third ascending wave. We think, today, the price may start falling towards the center of its continuation pattern and reach level of 52.50. Possibly, the pair may try to test level of 57.00 and then continue the correction. Later, in our opinion, the market may form another ascending wave with the target at level of 58.50.
XAU USD, “Gold vs US Dollar”Gold is forming another consolidation channel. We think, today, the price may continue moving downwards to reach level of 1163. Later, in our opinion, the market may return to level of 1197 and then continue falling inside the downtrend to reach level of 1113.
RoboForex Analytical Department
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