EURUSD, “Euro vs US Dollar”
As we can see in the daily chart, after finishing the descending wave at 1.1830 and updating the low, EURUSD is expected to continue falling within the downtrend with the target at 1.1600. This month, the pair may correct to test 1.1900 from below and then resume trading downwards to reach the above-mentioned target.
GBPUSD, “Great Britain Pound vs US Dollar”
In the daily chart, after completing the descending wave at 1.3822 along with the correction towards 1.4000, GBPUSD is falling to break 1.3822 and continue forming the third descending wave with the short-term target at 1.3637. Later, the market may correct to test 1.3822 from below and then form a new descending structure to reach 1.3370.
USDRUB, “US Dollar vs Russian Ruble”
As we can see in the daily chart, after finishing the descending wave at 71.60 along with the correction towards 73.33, USDRUB is forming a new descending wave with the target at 71.00. In fact, the asset is expected to form the fifth descending wave within the downtrend.
USDJPY, “US Dollar vs Japanese Yen”
In the daily chart, USDJPY is forming the fifth ascending wave towards 111.44 and may later consolidate around this level. If the price breaks the range to the downside, the market may start a new decline with the target at 107.00.
As we can see in the daily chart, Brent continues trading upwards. Possibly, the asset may reach 78.00 and then start a new correction towards 71.30. Later the market may resume continue trading within the uptrend with the target at 81.00.
XAUUSD, “Gold vs US Dollar”
In the daily chart, Gold has completed the descending structure at 1750.50; right now, it is consolidating above this level. Possibly, the metal may start another growth towards 1833.90 and then fall to reach 1690.00. After that, the instrument may form one more ascending structure to test 1777.70 from below. The next downside target is at 1600.00.
In the daily chart, after rebounding from 4200.0, the S&P index is still moving upwards and has almost reached the short-term target at 4300.0. Possibly, the asset may start another correction to return to 4200.0 and then resume trading within the uptrend to reach 4330.0.
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.