EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken the consolidation range to the downside and completed the correction. We think, today the price may move according to the main scenario and fall towards 1.1293. An alternative scenario suggests that the instrument may continue the correction to reach 1.1380.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has finished the descending wave, which may be considered as the central structure of the downside continuation pattern. Possibly, today the price may rebound from 1.2935. The local target is at 1.2845. Later, in our opinion, the market may be corrected in the fourth wave to reach 1.2935 to test it from below and then start another decline with the target at 1.2817.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending correctional structure at 0.9638. We think, today the price may continue moving according to the main scenario to reach 0.9665. After breaking it, the instrument may reach 0.9692 and then fall to return to 0.9665. An alternative scenario suggests that the market may continue the correction with the target at 0.9615.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating at the top of the ascending wave; this structure may be followed by a reverse to the downside. Possibly, the price may break the low of this consolidation range. The first target is at 111.94.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading in the center of the descending wave towards 0.7653. Later, in our opinion, the market may be corrected to reach 0.7650 and then form the third wave with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken 59.36 to the upside and right now is still being corrected. In fact, the entire range may be considered as the consolidation channel at the top of the ascending wave. After breaking this range to the downside, the price may continue falling inside the downtrend with the target at 55.50.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating near the lows. Possibly, today the price may break 1228.86 to the upside and form the first wave towards 1240.00. After that, the instrument may be corrected to test 1229.00 from above and then start another growth with the target at 1259.15.
Brent is forming the fourth correctional structure. Possibly, the price may form another descending structure to reach 47.41. Later, in our opinion, the market may form the fifth structure towards 50.30 and finish the first wave. After that, the instrument may be corrected with the target at 47.40 (an alternative scenario).
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.