Analysis for June 3rd, 2016
Eurodollar has completed the fourth descending structure, but the market has formed the descending structure not only as a correctional one. At the moment, the price is consolidating. After breaking this channel downwards, the pair may continue falling towards 1.1107 as the third structure. After that, the pair may test 1.1160 from below and then fall towards 1.1100.
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 returned to the center of the range and right now is forming another consolidation channel. If this new range is broken upwards, the market may grow to reach 0.9933. Later, in our opinion, the market may test 0.9900 from above and then form another ascending structure towards 0.9944.
USD JPY, “US Dollar vs Japanese Yen”Yen is consolidating inside the descending wave. If this consolidation range is broken downwards, the downtrend may continue up to 104.00; if upwards – grow to reach 112.24.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has completed the descending wave and the correction. We think, today the price may form another descending structure with the target at 0.7165. After that, the pair may test 0.7200 from below and then fall towards 0.7130.
USD RUB, “US Dollar vs Russian Ruble”Russian Ruble has formed the fifth structure of the flag correctional pattern and completed this ascending wave. We think, today the price may fall towards 65.60. Later, in our opinion, the market may consolidate, break the ascending channel, and continue falling to reach 63.50.
XAU USD, “Gold vs US Dollar”Gold is moving near its lows and forming another consolidation range. The market has formed the triangle pattern. We think, today the price may fall to update the minimum and reach 1200.
RoboForex Analytical Department
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