EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending wave and returned to 1.2018; the entire structure is looking like the Flag correctional pattern. We think, today the price may consolidate at the current highs. After breaking this consolidation channel to the downside, the instrument may form another descending wave to reach 1.1840. it’s the first target of the third wave.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still trading close to its highs. Possibly, the price may form another consolidation range. Later, in our opinion, the market may break the range to the downside and start a new correction towards 1.3222.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still being corrected towards 0.9588. After that, the instrument may continue growing with the target at 0.9666.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating at the top of the ascending wave. Possibly, today the price may break 111.00 to the downside and continue the descending wave with the target at 109.57.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the target of the ascending structure. We think, today the price may start falling towards 0.7989.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating above 57.85. Possibly, the price may break this range to the upside and reach 58.40 (at least), or even extend the structure towards 58.67. Later, in our opinion, the market may resume falling with the target at 56.55.
XAU USD, “Gold vs US Dollar”
Gold has broken its consolidation channel to the upside. Possibly, the price may start another correction with the target at 1320. After that, the instrument may fall towards 1294.
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.