EUR USD, “Euro vs US Dollar”
The EUR/USD pair has rebounded from its highs, finished another descending impulse, and right now is forming the second one. After breaking 1.1388 to the downside, the instrument may fall to reach 1.1332 and, as a result, break the channel of the fifth ascending wave and complete the current growth. Later, in our opinion, the market may move downwards with the target at 1.0900. The first predicted target is at 1.1180. while moving inside the ascending channel, the pair may choose an alternative scenario and grow to reach 1.1466.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming the second descending impulse. Possibly, today the price may break 1.2940 to the downside. The local target is at 1.2860.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming the second ascending impulse. Possibly, the price may reach 0.9640 and then start another correction towards 0.9596. After that, the instrument may start a new ascending wave with the first predicted target at 0.9775.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to 111.80 and right now is forming another correction towards 112.66. Possibly, today the price may complete the current growth and start forming another descending impulse. Later, in our opinion, the market may break 111.80 and then continue falling to reach 110.70.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating at the top of the ascending wave. We think, today the price may fall towards 0.7650 and then grow to reach 0.7680. After breaking 0.7650 to the downside, the instrument may continue falling inside the downtrend with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still forming the fifth descending structure with the target at 58.25. We think, today the price may reach the above-mentioned target. Later, in our opinion, the market may be corrected to reach 59.30.
XAU USD, “Gold vs US Dollar”
Gold has reached the target of another five-wave descending structure. We think, today the price may grow to reach 1246.70. If later the market breaks 1247.00 to the upside, the instrument may be corrected towards 1259.15; if it breaks 1238.25 to the downside, it may continue its decline with the target at 1222.22.
Brent has reached the local predicted target. Possibly, the price may extend this structure towards 49.40. Later, in our opinion, the market may start another correction with the target at 47.36 and then resume moving upwards to reach 50.25.
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.