EUR USD, “Euro vs US Dollar”
The EUR/USD pair has extended the correction towards 1.1400 and completed it. We think, today the price may break this correctional channel and fall to reach 1.1360. After that, the instrument may start consolidating. If later the pair breaks this consolidation range to the downside, the market may form the third descending wave with the target at 1.1300.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached the upside border of the consolidation range. Possibly, today the price may fall towards the downside one, break it, and then continue falling to reach the target of the third wave at 1.2841. Later, in our opinion, the market may be corrected in the fourth wave to reach 1.2934.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken 0.963 to the downside and extended the correction towards 0.9600. We think, today the price may grow to return to 0.9633. According to the main scenario, the pair is expected to continue forming the third ascending wave to reach 0.9680. An alternative scenario suggests that the market may reach 0.9580.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed another ascending structure inside the consolidation range and defined its upside border. According to the main scenario, the price is expected to fall towards the downside one at 112.78. After that, the instrument may grow to reach 113.24, rebound from it, and then continue falling inside the downtrend with the target is 110.20.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the descending wave towards 0.7563. 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 almost completed the Double Top pattern. According to the main scenario, the price is expected to fall towards 58.57. Possibly, the market may try to reach 60.50 again. After that, the instrument 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. An alternative scenario suggests that the market may fall to reach 1215.00.
Brent has reached the target of the correction at 47.41. Possibly, today the price may break the correctional channel and form the fifth ascending wave with the target at 50.30. Later, in our opinion, the market may start another correction towards 47.40.
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.