Analysis for June 29th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has rebounded from 1.1100 and right now is moving towards the downside border of the current consolidation range. The main scenario implies that the price may continue falling inside the downtrend with the local target at 1.0830. Later, in our opinion, the market may be corrected to return to 1.1110.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has rebounded from 1.3400 and right now is still falling inside the downtrend. We think, today the price may reach 1.2860 and then start a new correction towards 1.3400. Later, in our opinion, the market may continue falling inside the downtrend to reach 1.2650.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still moving upwards with the target at 0.9848. After that, the pair may form another consolidation range to return to 0.9700. Later, in our opinion, the market may grow to break its highs and form another descending wave to reach 1.0000. The local target of the ascending wave is at 1.0050.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving to rebound from 102.80. The price is expected to continue falling inside the downtrend to reach 98.30.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trying to form a new ascending structure. Possibly, the price may reach 0.7460. However, the main scenario implies that the pair may continue falling inside the downtrend to break the low and reach 0.7130.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still consolidating and forming a descending structure towards the downside border of this consolidation range. If the price breaks this range upwards, the correction may continue to reach 69.00; if downwards - the market may continue falling inside the downtrend to reach 60.00.
XAU USD, “Gold vs US Dollar”
Gold is rebounding from the downside border of its consolidation range. We think, today the price may grow to break the upside border and continue forming the ascending wave with the target at 1383.
RoboForex Analytical Department