Forex Technical Analysis 04.06.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 4, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has expanded its consolidation channel upwards and today may try to reach a new high and return to level of 1.1190.  Later, in our opinion, the market may fall towards level of 1.1000 and then grow again to reach level of 1.1525. After that, the pair may start another descending movement to return to level of 1.1000.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming a correction with the target at level of 1.5400; the pair has already reached the minimum target of this correction. We think, today, the price may form the fifth structure of the correction and then continue falling inside the downtrend.  The target of this first wave is at level of 1.5051.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still being corrected towards level of 0.9255. Later, in our opinion, the market may grow to return to level of 0.9542 and then move downwards again to reach level of 0.8933.

USD JPY, “US Dollar vs Japanese Yen”

Yen is being corrected towards level of 124.74. After reaching it, the pair may fall towards level of 123.54 and then return to level of 124.30, thus forming a new consolidation channel. If the pair breaks this channel downwards, it may continue falling inside the downtrend; if upwards – form another ascending structure with the target at level of 125.80.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has rebounded from level of 0.7785 and right now is moving downwards. The main target is at level of 0.7500 or even 0.7417. Later, in our opinion, the market may return to level of 0.7780.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is moving upwards. We think, today, the price may level of 55.50 as the third wave of the current correction. Later, in our opinion, the market may fall towards level of 52.33 and then start the fifth wave with the target at level of 58.50.

XAU USD, “Gold vs US Dollar”

Gold continues moving downwards. We think, today, the price may reach level of 1163. Later, in our opinion, the market may return to level of 1197 and then continue falling inside the downtrend to reach level of 1113.

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