Analysis for June 24th, 2016
EUR USD, “Euro vs US Dollar”
Being influenced by the news, Eurodollar has started falling inside the downtrend very fast. In fact, it is forming the third descending wave. At the top of the second wave, the price may form the double top
technical pattern and then continue falling to reach 1.0830. After reaching it, the pair is expected to return to 1.1130 to test it from below. Later, in our opinion, the market may continue falling with the target at 1.0650.
GBP USD, “Great Britain Pound vs US Dollar”
Being influenced by the news, Pound has started a sharp decline inside the downtrend. This movement may be considered as the fifth wave with the target at 1.2630. Right now, the pair is expected to reach 1.3100. Later, in our opinion, the market may grow to test 1.3825 from below and then continue falling to reach the main target of the wave.
USD CHF, “US Dollar vs Swiss Franc”
Being influenced by the news, Franc is moving upwards. We think, today the price may reach 0.9825 and then return to 0.9700. After that, the pair may grow towards 0.9850. In fact, the market is expected to start forming the third ascending wave to break 0.9950.
USD JPY, “US Dollar vs Japanese Yen”
Being influenced by the news, Yen has reached the predicted downside target. Considering that the descending structure was a trend one, it may be extended towards 97.00. Later, in our opinion, the market may be corrected towards 113.00.
AUD USD, “Australian Dollar vs US Dollar”
Being influenced by the news, Australian Dollar has broken the correctional flag
pattern. Later, the price is expected to continue falling with the target at 0.7130.
USD RUB, “US Dollar vs Russian Ruble”
Russian Ruble is expected to grow inside the uptrend towards 69.00.
XAU USD, “Gold vs US Dollar”
Today’s news has made Gold a “rescuer” of the capital. The instrument has quickly become a “safe haven” asset as the market is growing with the target at 1347. Such situation (an alternative scenario) will remain until there appear some decisions how to resolve the situation.
RoboForex Analytical Department
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