Analysis for June 2nd, 2016
Eurodollar has reached its local upside target. We think, today the price may form the fourth wave to return to 1.1150. After that, the pair may start the fifth wave to reach 1.1215. The entire structure is considered as a correctional one.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is still falling to reach the target at 1.4300. Possibly, today the price may test 1.4505 from below. After that, the pair may continue moving downwards to reach the above-mentioned target.
USD CHF, “US Dollar vs Swiss Franc”Franc has reached the downside border of its consolidation range and right now is forming a new one. If this new range is broken upwards, the market may return to 0.9910; if downwards – reach 0.9815. Later, in our opinion, the market may return to 0.9910.
USD JPY, “US Dollar vs Japanese Yen”Yen has reached the target of the correction. We think, today the price may choose an alternative scenario and grow to reach 112.22. The main scenario still implies that the pair may form another consolidation channel, break it downwards, and then continue falling inside the downtrend towards 104.00.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar continues moving inside a narrow consolidation range. If this range is broken downwards, the market may expand it towards 0.7130; if upwards – reach 0.7325.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble is moving upwards with the target at 67.62. Later, in our opinion, the market may fall towards 63.30. After that, the pair may start a new ascending correction to reach 70.00.
XAU USD, “Gold vs US Dollar”Gold is moving near its lows and forming another consolidation range. We think, today the price may test 1220 and then fall towards 1200.
RoboForex Analytical Department
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