Forex Technical Analysis & Forecast 24.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed another descending structure towards 1.1530. Today, the price may be corrected to reach 1.1578, thus forming a new consolidation range. If later the instrument breaks this range to the downside, the price may resume falling inside the downtrend with the target at 1.1400; if to the upside – extend the wave towards 1.1630.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the short-term downside target. Possibly, today the pair may be corrected to reach 1.2855 and then fall towards 1.2777. Later, the market may resume growing with the target at 1.2855.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the first ascending impulse. Possibly, today the pair may be corrected towards 0.9834, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may resume growing with the target at 0.9933; if to the downside – continue its decline towards 0.9800.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still moving upwards; it has reached the predicted target of the wave. Today, the price may consolidate near the lows. If later the instrument breaks this range to the downside, the price may resume falling inside the downtrend with the target at 110.60; if to the upside – continue growing towards 111.77.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7283. If later the instrument breaks this range to the upside, the price may resume growing to reach 0.7325; if to the downside – resume falling inside the downtrend with the short-term target at 0.7200.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the upside border of the range. Today, the price may fall towards 67.10 and then grow to reach 68.04. If later the instrument breaks 67.10 to the downside, the price may continue falling with the target at 65.80; if to the upside – resume growing towards 71.00.

XAUUSD, “Gold vs US Dollar”

Gold has completed the fourth structure of the ascending wave. Possibly, the pair may form the fifth one with the target at 1211.00. Later, the market may start another correction towards 1184.00.

BRENT

Brent is still forming the third ascending wave. Possibly, today the pair may reach 75.50 and then start a new correction towards 73.50, at least. After that, the instrument may resume growing with the first target at 76.76.