Article By RoboForex.com
Analysis for June 22nd, 2016
Eurodollar has broken 1.1300 downwards and right now is consolidating. We think, today the price may fall to break this consolidation range downwards and then continue falling inside the downtrend to reach 1.1119.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating. We think, today the price may grow towards 1.4700. After breaking 1.4600 downwards, the pair may fall to reach 1.4400. However, if the market breaks this consolidation range upwards, the pair may grow to reach 1.4900 (an alternative scenario).
USD CHF, “US Dollar vs Swiss Franc”
Franc has rebounded from the downside border of the consolidation range and right now is moving towards the upside one. We think, today the price may reach 0.9700 and then return to 0.9635. After that, the pair may grow towards 0.9800. An alternative scenario implies that the market may try to reach 0.9500 and then continue growing inside the uptrend with the target at 0.9900.
USD JPY, “US Dollar vs Japanese Yen”
Yen is consolidating. The price has rebounded from the upside border and right now is falling towards the downside one. If the price breaks this consolidation channel upwards, it may be corrected with the target at 106.44; if downwards – continue falling to reach 101.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. If the price breaks this consolidation range upwards, it may reach 0.7555; if downwards – continue falling to reach 0.7130.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Russian Ruble is falling. We think, today the price may reach 63.50. Later, in our opinion, the market may grow towards the upside border of the consolidation channel at 66.40.
XAU USD, “Gold vs US Dollar”
Gold has broken the pennant pattern downwards and right now is forming the second descending structure to reach the target at 1240. The market has completed the consolidation range, broken it downwards, and is expected to fall to reach 1253. Later, in our opinion, the price may test 1264 from below and then continue falling inside the downtrend to reach the target.
RoboForex Analytical Department
Article By RoboForex.com
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.