Forex Technical Analysis 08.06.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 8, 2015

EUR USD, “Euro vs US Dollar”

After making a fast descending movement last Friday, Eurodollar is forming a consolidation channel. We think, today, the price may continue falling towards level of 1.0956 and then grow to test level of 1.1176 from below. . Later, in our opinion, the market may continue falling to reach its target level.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming a descending wave with the target at level of 1.5050. We think, today, the price may continue falling inside the downtrend to reach the target. . Later, in our opinion, the market may form a correction towards level of 1.5400 and then continue forming its descending structure towards level of 1.4400.

USD CHF, “US Dollar vs Swiss Franc”

After making a fast ascending movement last Friday, Franc has completed its correction. We think, today, the price may continue moving to reach level of 0.9542. Later, in our opinion, the market may fall again towards level of 0.9310.

USD JPY, “US Dollar vs Japanese Yen”

Yen has expanded its consolidation channel upwards. We think, today, the price may fall to test level of 124.80 from above and then form another ascending structure with the target at level of 126.11.

AUD USD, “Australian Dollar vs US Dollar”

Last Friday, Australian Dollar fell and reached the lower border of its consolidation channel. Possibly, today, the price may return to level of 0.7700, continue falling to break this consolidation channel, and expand it downwards to level of 0.7500.

USD RUB, “US Dollar vs Russian Ruble”

Ruble has reached the local target of its ascending wave. We think, today, the price may form a correction to test level of 52.50 from above. Later, in our opinion, the market may start forming the fifth wave with the target at level of 58.50.

XAU USD, “Gold vs US Dollar”

Gold has expanded its consolidation channel and reached the target of the five-wave structure. Possibly, the market may form a correction to return to the center of this consolidation channel at level of 1197. Later, in our opinion, the price may form another descending impulse to reach new lows and continue falling inside the downtrend to reach level of 1113.

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