Analysis for June 26th, 2013
Euro continues forming a descending wave. We think, today the price may reach the level of 1.3025, return to test the level of 1.3088, and then continue falling down towards the target at 1.2900.
Pound is still forming an ascending structure towards the target at 1.5485. Later, in our opinion, the pair may start falling down to reach the third target at the level of 1.5230.
Franc continues forming an ascending stricture towards the target at 0.9440. Later, in our opinion, the pair may start a slight descending correction towards the level of 0.9300 and then complete this correctional wave by forming another ascending structure and reaching the target at 0.9480.
The USD/JPY currency pair is still moving inside a narrow trading range without any particular direction. We think, today the price may continue growing up towards the level of 99.15 and then form a pivot point for a reverse and a new descending movement inside the third wave.
Australian Dollar continues consolidating near its minimums. We think, today the price may continue falling down towards the next target at 0.8900. Later, in our opinion, the pair may form a correction to reach the level of 0.9280 and then start another descending structure to reach the target at 0.8800.
Gold is under pressure; it has already reach the target at 1250. We think, today the price may form an ascending structure to test the level of 1280 from below and then start a new descending movement towards the level of 1225.
RoboForex Analytical Department