Forex Technical Analysis & Forecast 06.05.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed the descending impulse at 1.1165 along with the correction towards 1.1195. If later the price breaks the range to the downside, the instrument may resume trading inside the downtrend with the target at 1.1111; if to the upside – choose an alternative scenario and continue the correction towards 1.1232.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has rebounded from 1.2952 and finished another correctional structure; right now, it is trading downwards. The target is at 1.2987.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating above 1.0170. Possibly, today the pair may break the range to the upside and reach the target at 1.0199. However, if the price breaks the range to the downside, the instrument may continue the correction towards 1.0126.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the first downside target. Today, the pair may grow to reach 110.62 and then form a new descending structure towards 110.46. If later the price breaks the range to the upside, the instrument may start a new correction with the target at 111.20; if to the downside – continue forming the first wave towards 109.90.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.6996 and reached 0.6945. Possibly, today the pair may grow to return to 0.6996 and then start another decline with the first target at 0.6925.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has broken 65.22. According to the main scenario, the price is expected to continue falling with the target at 64.85. Later, the market may form one more ascending structure to reach 66.06 and then start another decline towards 64.65.

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending structure at 1294.36; right now, it is consolidating around 1281.70. If later the price breaks the range to the downside, the instrument may resume trading inside the downtrend with the first target at 1264.80.

BRENT

Brent has completed the correction at 70.00. Possibly, the pair may grow to reach 71.50. After that, the instrument may form a new descending structure towards 70.30. If later the price breaks the range to the upside, the instrument may resume trading inside the uptrend with the target at 76.50; if to the downside – continue the correction towards 68.50.