EURUSD, “Euro vs US Dollar”
EURUSD has reached the local target of a declining wave at 1.1020. The market is consolidating above this level today. A link of growth to 1.1070 is expected to develop, followed by a drop to 1.1046. Next, the pair could rise to 1.1100, from where the correction might expand to 1.1125 (with a test from below). When it is over, a new wave of decline to 1.0977 could start. This is the first target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed a structure of a wave of growth to 1.2903. At the moment, a consolidation range is forming under this level. Exiting the range upwards could open the potential for a structure of growth to 1.2929, followed by a decline to 1.2872 and a rise to 1.2946. If the price breaks the range downwards, the wave of decline might extend to 1.2770.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed a link of decline to 140.74 and a link of growth to 141.70. Today the market continues to develop a declining structure to 139.93. Next, a rise to 141.03 (with a test from below) and a drop to 139.80 could follow. There the correction should be over. After the price hits this level, a wave of growth to 142.33 might start.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed a wave of growth to 0.8698. Today the market is forming a correction structure to 0.8624. After the correction is over, a wave of growth to 0.8799 could begin.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed a structure of correction to 0.6793. Today a new wave of decline to 0.6726 might start, from where the trend could continue to 0.6655.
Brent has completed a structure of growth to 83.43. A consolidation range is forming under this level today. A link of decline to 82.50 is not excluded, followed by a rise to 83.60. This is a local target. After the price reaches this level, a correction to 81.10 might form, followed by a rise to 84.00.
XAUUSD, “Gold vs US Dollar”
Gold completed a structure of decline to 1951.33. This is a local target. Today the market has performed a link of growth to 1966.16. At the moment, a consolidation range is forming under this level. Exiting the range upwards, the price could extend the wave of growth to 1972.12. With an escape downwards, a new wave of decline to 1937.00 could begin.
The stock index has formed a consolidation range around 4560.0 and suggests extending the range to 4591.0 by exiting it upwards. Upon reaching this level, the price might drop to 4530.0. And if this level also breaks, the potential for a drop to 4488.0 could open.
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.