EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating above 1.1200. We think, today the price may grow towards 1.1287 and then fall to reach 1.1212. Possibly, the pair may reach 1.1305 (an alternative scenario). The main scenario implies that the market may continue its descending correction with the target at 1.0900.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is trading to break the Pennant pattern to the upside. Right now, the instrument is forming a continuation pattern around 1.2913. Possibly, the price may form the third descending structure with the target at 1.2997.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating near its lows. Possibly, the price may reach 0.9623. Later, in our opinion, the market may form a reversal pattern to start a new correction with the target at 0.9900.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has formed a downside continuation pattern near 110.47 and already broken the low if its consolidation range. The local downside target is at 108.87. After that, the instrument may be corrected towards 110.47.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is still moving upwards. Possibly, the price may reach 0.7510 and complete the correction. Later, in our opinion, the market may continue moving downwards with the target at 0.7200.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still consolidating without any particular direction. Possibly, the price may choose an alternative scenario and reach 57.00. The main scenario implies that the market may fall towards 55.50.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold continues growing. Possibly, the price may reach the local target at 1287.44. After that, the instrument may be corrected towards 1267.00 and then grow to form the fifth wave with the target at 1300.00.
Brent has expanded its consolidation range and broken it to the upside. Possibly, the price may grow to reach the first target at 53.33. Later, in our opinion, the market may be corrected to reach 51.15 and then move upwards towards 55.80.
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.