Forex Technical Analysis & Forecast 22.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is still moving downwards with the target at 1.1695; right now, it is being corrected towards 1.1845. Possibly, today the price may grow to reach 1.1822 and may fall towards 1.1782. After that, the instrument may grow to return to 1.1845 and then resume falling inside the downtrend to each the main target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is moving downwards. Today, the price may reach 1.3370 and then start another correction towards 1.3470, at least. Later, the market may resume falling with the target at 1.3260.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating. If later the instrument breaks this range to the upside, the market may grow to reach 1.0110; if to the downside (an alternative scenario) – fall with the target at 0.9944 and then resume growing with the target at 1.0110.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at the top of the ascending structure. Possibly, today the price may fall to reach 110.47. Later, the market may start another growth with the target at 111.86 and then resume falling towards 110.25.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is moving upwards and may be corrected to reach the target at 0.7700. Today, the price may grow towards 0.7633 and then start another decline to reach 0.7562. After that, the instrument may continue growing towards the above-mentioned target.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is moving downwards. Today, the price may reach 62.30, break it, and then continue forming the third descending wave with the short-term target at 58.98.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1302.00; if to the downside – resume falling with the target at 1280.00.
BRENT
Brent has rebounded from 78.10. Possibly, the price may continue moving upwards with the target at 82.78. Later, the market may start another correction towards 77.70.
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.