Forex Technical Analysis & Forecast 18.02.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed the descending structure at 1.1240 along with the correction. Possibly, today the pair may grow with the short-term target at 1.1322 and then resume falling to reach 1.1283. Later, the market may form one more ascending structure towards 1.1333 to finish the correction and then resume trading inside the downtrend to reach 1.1240.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has almost completed the descending structure at 1.2775; right now, it is being corrected with the short-term target at 1.2922. After that, the instrument may form a new descending structure towards 1.2857 and then resume trading upwards to finish the correction at 1.2934. Later, the market may resume trading inside the downtrend with the target at 1.2770.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving downwards. Possibly, the pair may continue the correction towards 1.0003. Today, the price may reach 1.0024 and then start a new growth with the target at 1.0046. Later, the market may form a new descending structure towards 1.0003.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 110.45. Possibly, the pair may reach 110.64 and then continue the correction towards 110.24. After that, the instrument may break this level and continue trading inside the downtrend to finish the correction at 109.82. Later, the market may form one more ascending structure with the target at 111.11.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still being corrected upwards with the target at 0.7160. After that, the instrument may form a new descending structure towards 0.7094 and then resume trading upwards to reach 0.7194. Later, the market may resume falling with the target at 0.7028.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 66.65. Possibly, today the pair may fall to reach 66.27 and then continue the correction with the short-term target at 67.13.

XAUUSD, “Gold vs US Dollar”

Gold is trading upwards; it has broken the consolidation range to the upside. Today, the pair may reach 1324.70 and then start a new decline towards 1316.05. After that, the instrument may resume trading upwards with the short-term target at 1329.55.

BRENT

After breaking 64.75 and forming an upside continuation pattern, Brent has reached the first target at 66.66. Possibly, today the pair may trade downwards to reach 64.75 and then start a new growth with the target at 68.64 (an alternative scenario to extend the fifth wave). The price may form a new correction and start plummeting towards 57.07 at any moment.