Forex Technical Analysis & Forecast 08.05.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has formed another consolidation range around 1.1195; right now, it is expected to move towards its upside border. Possibly, the pair may reach 1.1208, start a new decline towards 1.1187, and then form one more ascending structure with the target at 1.1230. If later the price breaks the range to the upside, the instrument may continue the correction to reach 1.1250; if to the downside – resume trading inside the downtrend towards 1.1050.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.3084 and reached the short-term downside target; right now, it is moving to return to the above-mentioned level. After that, the instrument may form a new descending structure with the first target at 1.2992.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 1.0188. Today, the pair may fall to reach 1.0163 and then form one more ascending structure with the target at 1.0255.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards inside the fifth wave with the first target at 109.55. Later, the market may start a new correction towards 111.44.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7010. Possibly, today the pair may reach 0.7061 and fall to return to 0.7010. If later the price breaks the range to the upside, the instrument may start a new correction with the target at 0.7128; if to the downside – resume trading inside the downtrend to reach 0.6925.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling to reach 64.85. Later, the market may form one more ascending structure with the target at 66.02 and then start another decline towards 64.44.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1282.10. Possibly, the pair may form one more ascending structure to reach 1287.50 and then start a new decline to return to 1282.10. If later the price breaks the range to the upside, the instrument may continue the correction with the target at 1292.00; if to the downside – resume trading inside the downtrend towards 1260.00.

BRENT

Brent is consolidating around 70.81. If later the price breaks the range to the downside, the instrument may continue the correction with the target at 68.70; if to the upside – form the fifth ascending wave towards 76.50.