EURUSD, “Euro vs US Dollar”
The EURUSD pair has completed a growth wave towards 1.0733 and a decline link to 1.0678. Practically, the boundaries of a consolidation range have been set. Today the market is hovering at its upper boundary. Range extension towards 1.0750 is not excluded. Next, a decline wave targeting the lower boundary of the range could start. And if the 1.0670 level is breached, the potential for a decline towards 1.0585 might open.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBPUSD pair has completed a growth wave towards 1.2500 and a decline link to 1.2456. Practically, the boundaries of a consolidation range have been set. Today the market might extend the range towards 1.2538. Next, a decline wave targeting the 1.2444 level could start. And if this level is breached, the potential for a decline by the trend towards 1.2360 might open.
USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair has completed a growth wave towards 155.95. Today the market is forming a consolidation range around this level. With an upward escape from the range, the potential for a rise to 156.46 could open, and once this level is reached, a decline wave targeting 154.54 could begin. This is the first target of the decline wave.
USDCHF, “US Dollar vs Swiss Franc”
The USDCHF pair has completed a growth wave towards 0.9155. A decline link targeting 0.9101 is not excluded today. Next, a growth wave might extend towards 0.9195. This is the first target of the growth wave. Once this level is reached, a correction towards 0.9100 could follow.
AUDUSD, “Australian Dollar vs US Dollar”
The AUDUSD pair has completed a growth wave towards 0.6537 and a decline link to 0.6458. Practically, the market has set the boundaries of a consolidation range. A growth link to 0.6544 is not excluded. Next, a new decline wave towards 0.6480 is expected to start. And if this level also breaks, the potential for a wave targeting 0.6420 might open. This is the first target of a new decline wave.
BRENT
Brent has completed a growth wave to 88.00. A consolidation range is expected to form around this level today. With an upward escape from the range, the potential for a wave targeting 89.30 might open, from which level the trend could extend towards 92.00. With a downward escape, a correction link to 86.30 is not excluded. Next, the trend is expected to extend towards 92.00. This is a local target.
XAUUSD, “Gold vs US Dollar”
Gold has completed a growth wave targeting 2344.44. The market is forming a consolidation range under this level today. An escape downwards is expected, after which a decline wave targeting 2306.90 could start. Once this level is reached, a growth link to 2323.00 (testing from below) is not excluded. Next, a decline wave targeting 2275.00 could continue. This is a local target of the decline wave.
S&P 500
The stock index has formed a correction wave towards 5092.2 and a decline wave targeting 4990.0. Practically, the market has set the boundaries of a consolidation range. Today the market is at the upper boundary of this range. A decline towards 4990.0 is expected. And if this level also breaks, the potential for a wave towards 4904.0 could open. This is a local target of the decline wave.
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.