Forex Technical Analysis 10.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
10.06.2014
Analysis for June 10th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still being corrected towards level of 1.3560, at least. After reaching it, price may continue growing up inside ascending trend and forming the fifth ascending wave with target at level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues moving inside ascending channel and today may reach level of 1.6877. Later, in our opinion, instrument may form another descending structure towards level of 1.6655 (at least), and then form reversal pattern for new ascending wave to break level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still being corrected towards level of 0.9000. After reaching it, price may continue moving inside descending trend to reach level of 0.8300.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming descending structure; which may be considered as extension of the third wave. Local target is at level of 99.30. Right now, the next target is at 100.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating. We think, today price may fall down to break level of 0.9200 and then continue falling down to reach target at level of 0.9000. Alternative scenario implies that pair may move upwards to break upper border of triangle pattern and continue growing up towards level of 0.9500. However, scenario with descending trend towards level of 0.8400 still remains in effect and may start at any moment while market is moving upwards.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues falling down to reach level of 33.90. After reaching it, price may return to level of 35.00 and then complete this wave by forming another descending wave towards level of 33.20. Later, in our opinion, instrument may start new ascending trend. Target is at level of 38.50.
XAU USD, “Gold vs US Dollar”
Gold is still forming descending consolidation channel. We think, today price may reach level of 1260 and then return to level of 1213. Later, in our opinion, instrument may return to level of 1260 and then complete this descending movement by forming another structure to reach to level of 1208. After reaching it, price may start new ascending trend towards upper border of triangle pattern at level of 1360 to test it from below.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.