EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending impulse and right now is trading to break it to the upside. Possibly, the price may continue the correction. An alternative scenario implies that the market may break 1.1780, reach 1.1800, and then continue growing towards 1.1845. However, according to the main scenario the instrument may move to the downside to reach 1.1733, break it, and then continue falling towards the local target of the third wave at 1.1660.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating near the lows of the third descending wave. Possibly, today the price may be corrected to the upside to reach 1.3355. However, if the instrument breaks the range to the downside, it may fall with the target at 1.3170.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken 0.9740 and right now is still being corrected. We think, today the price may grow to test the above-mentioned level from below. After that, the instrument may form the fifth wave to reach 0.9695 and complete the correction. Later, in our opinion, the market may move to the upside with the local target at 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming another descending structure. Possibly, today the price may reach 112.27 and then grow towards 112.72. In fact, the instrument continues consolidating at the top of the ascending wave. The main scenario implies that the market may break this consolidation range to the downside and reach the first target at 111.50.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has returned to 0.7868. According to the main scenario, the instrument may fall to reach 0.7755 and then start another correction towards 0.7930.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the correctional target. We think, today the price may fall towards 57.50, break it, and then reach the local target at 57.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating near the lows of the descending wave. Possibly, today the price may test 1278.00 from below and fall towards 1265.50 to complete the descending wave. Later, in our opinion, the market may start growing with the first target at 1290.00.
Brent is consolidation near the lows of the correction. We think, today the price may grow towards 56.33, break it, and then continue moving upwards to reach the first target at 57.20. After that, the instrument may fall to return to 56.33. The main scenario implies that the market may start another ascending wave with the first target at 59.85.
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.