For EUR/USD, we can see formation of ill-defined initial conditions for correction; however, the situation with the franc remains unchanged.
Forecast for June 17:
Today, the important levels for EUR/USD are: 1.2493, 1.2430, 1.2399, 1.2280, 1.2240, 1.2168, 1.2140, 1.2099 and 1.2037. Here, the main key levels has not changed and we follow further the upward cycle development from June 7. For now, potential target for rising movement is the level of 1.2399, in the range of 1.2399-12430 the price consolidation. Potential target for ascendant motion is considered the level of 1.2493, after the reach of which a downward rollback is expected. A short-term falling movement is awaited in the diapason of 1.2280-1.2240, which is a key support. The broken level of 1.2240 will affect negatively further development of uprising tendency in short-term outlook. A correctional downward movement is probable in the range of 1.2168-1.2140, the breach of the last reading will lead to a deeper motion, here the target is 1.2099, from this level a key reversal upwards is expected and its breakout will influence unfavorably on rising structure development. The level of 1.2037 is a key support and interesting in mid-term outlook, before it we expect formation of initial conditions for falling cycle extending.
Trading recommendations:
Buy: 1.2430 Take profit: 1.2493
Sell: 1.2236 Take profit: 1.2168
Sell: 1.2140 Take profit: 1.2099
