EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken the range to the upside and may grow towards 1.0850 (an alternative scenario). Right now, the instrument is consolidating. If later the market breaks this consolidation range to the downside, it may fall to reach 1.0650; if to the upside – move upwards with the target at 1.0850.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken its consolidation range to the upside. Possibly, the price may choose an alternative scenario and reach 1.2500. After that, the instrument may move downwards with the target at 1.2250.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken 0.9955 to the downside. Possibly, the price may move according to an alternative scenario and expand the range towards 0.9911. Later, in our opinion, the market may start another ascending structure with the target at 1.0000.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has expanded its range to the downside and may start falling towards 110.66 to complete the fifth descending wave. After that, the instrument may grow to reach 115.00. the first upside target is at 112.98.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has broken its consolidation range to the downside. Possibly, the price may reach 0.7645 and then return to 0.7700 to test it from below. Later, in our opinion, the market may fall to break 0.7640. the local target is at 0.7580.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving downwards; if fact, it has almost formed the consolidation range at the lows as downside continuation pattern. If later the market breaks this consolidation range to the downside, it may fall to reach 56.50; if to the upside – start another correction towards 58.00.
XAU USD, “Gold vs US Dollar”
Gold has broken its range to the upside. Possibly, the price may extend this wave towards 1248.30. After that, the instrument may fall to reach 1223.00.
Being under pressure, Brent is moving downwards. Possibly, the price may form another structure of the Flag pattern with the target at 50.71 to complete the correction. Later, in our opinion, the market may start growing to reach 52.80.
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.