EURUSD, “Euro vs US Dollar”
EURUSD has formed the first wave of decline to 1.0944. Today a correction to 1.1111 could develop. This is the second wave. Once the correction is over, the third wave of decline to 1.0888 could follow. With a downward breakout of this level, the wave could extend to 1.0666. This is a local target. After this target is achieved, a correction to 1.0888 could start. This will be the fourth wave, followed by a decline to 1.0505 as the fifth wave. This is the main target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed the first wave of decline to 1.2762. Today the market is forming a structure of correction to 1.2955. This is the second wave. Once it is completed, the third wave of decline to 1.2762 is expected to develop. A downward breakout of this level will open the potential for a wave by the trend to 1.2555. This is an estimated local target. After this target is achieved, a correction to 1.2760 could start, followed by a decline to 1.2360. This is the main target.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed a wave of correction to 137.22. Today the market continues developing another wave of growth to 143.00. After the price hits this level, a consolidation range is expected to form. With a downward breakout of the level, a link of correction to 139.86 could form, followed by growth to 146.06. With an upward breakout, the trend could continue to 147.06. This is a local target.
Brent has formed a consolidation range around 82.50 and, breaking it upwards, continues to develop a wave of growth by the trend to 86.77 with the prospect of extending the structure to 87.20. After the price reaches this level, a link of correction to 82.50 is not excluded, followed by growth to 87.07 with the prospect of trend continuation to 95.66.
XAUUSD, “Gold vs US Dollar”
Gold has achieved a local target of a wave of growth at 1986.00. Today a link of decline to 1937.10 could develop. After the price hits this level, growth to 1995.50 could follow. At this point, the market will correct. Following the correction, another wave of decline to 1854.00 could start.
The stock index continues to develop a wave of growth to 4620.0. After the price reaches this level, a consolidation range is expected to form. With a downward breakout of the range, a wave of decline to 4333.0 could follow. Breaking this level down will open the potential for a wave of decline by the trend to 4111.1.
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.