EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating above 1.1200. We think, today the price may grow towards 1.1288 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; it has already reached 1.2882. Later, the market may grow towards 1.2966 and then fall with the target at 1.2888. After that, the instrument may form the fifth structure to reach 1.3051.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating near its lows; it has already reached 0.9620. Later, in our opinion, the market may grow towards 0.9700. and then 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 expanded its consolidation range to the downside. Possibly, the price may grow towards 110.47. The main scenario implies that the market may reach the local target at 108.87. After that, the instrument may be corrected inside the fourth wave towards 110.47 and then form the fifth one with the target at 106.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the fifth ascending structure. Possibly, the price may reach 0.7545 and then form a n reversal pattern. Later, in our opinion, the market may move downwards and form the fifth wave 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”
Gold has finished the second ascending structure, which is as long as the first one. Possibly, today the price may consolidate near the highs. After that, the instrument may reverse to the downside and form the fourth wave towards 1267. Later, in our opinion, the market may form the fifth one with the target at 1300.
Brent is trading upwards with the target at 50.50. Later, in our opinion, the market may fall to reach 49.80 and then move upwards towards the first target at 53.33.
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.