Forex Technical Analysis 11.06.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 11, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has formed a descending impulse and corrected it. We think, today, the price may form another descending impulse with the target at level of 1.1215 and then return to 1.1300. Later, in our opinion, the market may expand this consolidation channel downwards. The next target is at level of 1.1000.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has extended its ascending structure and right now is falling to return to level of 1.5300. After reaching it, the price may form the fifth wave of the current correction. Possibly, the correction may complete in three waves, after which the market may continue falling inside the downtrend towards level of 1.5050.

USD CHF, “US Dollar vs Swiss Franc”

Franc is forming a consolidation channel. We think, today, the price may break it upwards to reach level of 0.9430. Later, in our opinion, the market may test level of 0.9542 from above and then continue growing. The target is at level of 0.9545.

USD JPY, “US Dollar vs Japanese Yen”

Yen is also forming a consolidation channel. We think, today, the price may break it upwards to test level of 124.39 from below. Later, in our opinion, the market may form another descending structure inside the downtrend to break the minimum of the first wave. The local target is at 120.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming an ascending structure with the target at level of 0.7823.  After reaching it, the price may fall towards level of 0.7700, thus forming a new consolidation channel. If later this channel is broken upwards, the market may continue growing towards level of 0.8100; if downwards – fall and reach level of 0.7500.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still being corrected towards level of 52.50. Later, in our opinion, the market may start forming another ascending wave with the target at level of 58.50 and then continue falling inside the downtrend to reach level of 44.00.

XAU USD, “Gold vs US Dollar”

Gold has completed its ascending wave and right now is falling to return to level of 1176. After reaching it, the price may grow to level of 1184, thus forming a new consolidation channel. If later this channel is broken if downwards – the market may continue falling inside the downtrend towards level of 1113; if upwards (an alternative scenario) – continue the current correction to return to level of 1197.

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