Analysis for June 19th, 2013
Euro reached the level of 1.3400 and right now is moving close to its maximums. This is the only currency pair, which continues its tendency. We should note that the current wave has been completed and the price is not expected to continue moving upwards. Considering the fact that the market is not ready to make a reverse, we think the pair may start falling down towards the target at 1.3000.
Pound started forming a descending structure; the pair completed the first descending wave and right now is correction it towards the level of 1.5700. Later, in our opinion, the price may form another descending structure with a predicted target at 1.5415. It looks like the market is forming a continuation pattern, the target of which is not quite clear yet.
Franc completed the first ascending impulse and right now is correcting it; the target of this correction is at 0.9165. We think, today the price may continue growing up towards the next target at 0.9320, move downwards a little bit, and then start a new ascending structure towards the main target at the level of 0.9600.
The USD/JPY currency pair continues forming an ascending wave. We think, today the price may reach the first target at the level of 96, start a correction towards the level of 95, and then form another ascending wave with a predicted target at 98.80. We should note that the pair is forming the second correctional wave with the target at 99.15.
Australian Dollar is still forming another descending wave; the market has completed a continuation structure towards the level of 0.95. We think, today the price may reach the next target at 0.9350 and then start a slight correction. Later, in our opinion, the pair may continue falling down towards the target at 0.9215.
Gold fell down and reached level of 1361; this descending movement may be considered as a correction, which has already finished. We think, today the price may start a new ascending structure with the target at 1440.
RoboForex Analytical Department