EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving above 1.0884 without any particular direction. Possibly, today the price may reach 1.0923. Later, in our opinion, the market may fall to break the low and continue forming the wave with the target at 1.0820. After that, the instrument may be corrected to return to 1.0884.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is moving downwards. Possibly, the price may reach 1.2869. After that, the instrument may grow towards 1.2983 and then start a more significant correction to the downside with the target at 1.2700.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is trading to rebound from 0.9928 again; this ascending structure may be considered as a part of the third wave. The local target is at 1.0000. Later, in our opinion, the market may be corrected towards 0.9965 and then continue moving upwards with the target at 1.0040. This will be the first wave of the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is still moving upwards. The price has almost completed the current wave and may resume the downtrend at any moment. The first target is at 109.85.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed its ascending wave. We think, today the price may fall to break 0.7500. The target is at 0.7407.
USD RUB, “US Dollar vs Russian Ruble”
After the market opening, the USD/RUB pair is expected to fall towards 55.50. After that, the instrument may be corrected with the target at 61.00.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving downwards. Possibly, the price may grow to reach 1252 and then grow towards 1276, thus forming another consolidation range. If later the market breaks this range to the upside, the instrument may reach 1312; if to the downside – continue the correction towards 1211.
Brent has completed the ascending impulse and the correction, but right now the instrument is under pressure and trading to the downside. Possibly, the price may reach 51.00, thus forming the Inverted Double Top pattern. Later, in our opinion, the market may grow towards 52.80 and form another consolidation range. After breaking it to the upside, the price may continue growing with the first target at 55.00.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.