EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending correctional structure of the previous five-wave descending structure. Possibly, today the price may consolidate at the lows and reach 1.1791. After that, the instrument may form fall towards 1.1731, break it downwards, and then continue falling with the target at 1.1666.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating at the lows. If later the instrument breaks this consolidation channel to the upside, the market may be corrected towards 1.3000; if to the downside – continue falling with the target at 1.2732.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending correctional structure of the previous ascending wave and right now is consolidating at the lows. We think, the price may grow to reach 0.9728. After that, the instrument may break this level and continue moving upwards with the target at 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the broken descending channel. Possibly, the price may reach 109.40 and then grow towards 110.37, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may continue the correction towards 112.18; if to the downside – fall with the target at 107.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating; it has already reached the upside border of the Expanding Triangle pattern. Possibly, the price may rebound from it and continue falling to reach 0.7755.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken the consolidation range to the downside. Possibly, today the price may fall to reach 58.96 and then move upwards to test 60.00 from below.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is still moving upwards. We think, the price may reach 1290.40. After that, the instrument may fall towards 1278.60 and then form another ascending structure with the target at 1300.00. However, if the market breaks the lows, the downtrend may continue up to 1255.00.
Brent is consolidating at the lows. If later the instrument breaks this consolidation channel to the upside, the market may continue growing towards 52.50; if to the downside – start another correction with the target at 48.92.
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.