Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.
After completing the ascending wave at 74.00, Brent is still moving upwards to reach 74.74.
USDJPY has finished the ascending wave at 110.05; right now, it is consolidating around this level. Possibly, the pair may start a new correction to reach 109.70.
After completing the descending structure at 1.2093, EURUSD is consolidating above this level. Today, the pair may expand the range down to 1.2090.
Gold is still consolidating around 1890.00. If later the price breaks this range to the upside, the market may start a new growth towards 1927.81.
Brent has expanded the range up to 72.61. Possibly, today the asset may correct towards 70.00 and then resume trading upwards with the short-term target at 75.55.
USDJPY is still consolidating around 109.44; right now, it is growing towards 109.85.
GBPUSD is consolidating 1.4155; right now, it is falling towards 1.4104.
AUDUSD has finished the correction at 0.7735. Today, the pair may form a new descending structure towards 0.7627 and then start another correction to reach 0.7685.