EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming another ascending correctional structure; the instrument has broken 1.1961 and may grow to reach the target at 1.2000. We think, today the price may return to 1,1961 to test it from above and then continue growing towards the above-mentioned target. After that, the instrument may form another descending wave with the first target at 1.1912.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the first descending impulse along with the correction. Possibly, today the price may fall to break the low of this impulse and then continue falling inside the downtrend. The next target is at 1.3418.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/CHF pair is moving downwards. Possibly, the price may reach 0.9600 and then continue growing towards 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has extended its ascending structure towards 111.80. After that, the instrument may consolidate at the top. Possibly, the price may reach 112.00. Later, in our opinion, the market may continue falling with the target at 109.57.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still forming the fifth descending wave. We think, today the price may reach 0.7929 and then start growing towards 0.8020.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still being corrected towards 58.38. Possibly, the price may test 58.67 from below and complete the correction. Later, in our opinion, the market may start forming the fifth descending wave with the target at 56.55.
XAU USD, “Gold vs US Dollar”
Gold has reached the predicted downside target. Possibly, today the price may consolidate near the lows. If later the instrument breaks this consolidation channel to the downside, the market may fall towards 1294; if to the upside – start another correction with the target at 1330, at least.
Brent is still consolidating at the top of the third ascending wave. If later the instrument breaks this range to the upside, the market may continue growing to reach 56.20; if to the downside – start another correction with the target at 53.00.
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.