EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected towards 1.1242. We think, today the price may complete this ascending wave. Later, in our opinion, the market may break the channel of this correction and then start another descending wave with the target at 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating near its lows. Possibly, today the price may fall towards 1.2634 and then grow towards the center of the range at 1.2700. If later the market breaks this consolidation range to the downside, the instrument may move downwards to reach 1.2476; if to the upside – start another correction with the target at 1.2900.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected towards 0.9660. After that, the instrument may break the channel of this correction and grow with the local target at 0.9754.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming the fifth descending wave to reach 108.70. The market is expected to form a “wide” five-wave structure. After that, the instrument may be corrected towards 110.42.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still consolidating at the top of the ascending wave. The main scenario implies that the price may fall to break 0.7517 to the downside. The first target is at 0.7474.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating below 57.00. If the price breaks it to the upside, it may grow and extend the current correction towards 57.88 (an alternative scenario). The main scenario implies that the instrument may fall towards 55.50.
XAU USD, “Gold vs US Dollar”
Gold has returned to 1267 and right now is consolidating near its lows. If later the market breaks this consolidation range to the upside, the instrument may move upwards to reach 1291; if to the downside – start another decline with the target at 1255.
Brent has broken the descending channel. The upside target is at 50.23. Later, in our opinion, the market may fall to reach 45.60 and then start another growth with the target at 52.00.
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.