EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the descending impulse and right now is finishing the correction towards 1.1193. Later, in our opinion, the market may form another descending structure to reach 1.1116. After breaking it, the price may continue falling inside the downtrend with the local target at 1.1025.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached the local target of the correction and right now is being corrected towards 1.2698 (at least). After that, the instrument may grow to reach 1.2815 and then continue falling inside the downtrend to break 1.2587.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming another ascending structure. We think, today the price may reach 0.9740, break it, and then continue grow towards 0.9800. Later, in our opinion, the market may form another consolidation range as a continuation pattern. The local target is at 0.9900.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed its ascending structure and right now is forming the descending one. Possibly, the price may break 111.00. The target is at 109.86.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has broken its consolidation range to the upside. Possibly, the price may choose an alternative scenario and grow towards 0.7624. The main scenario implies that the market may continue falling inside the downtrend with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed only a half of the correction. Possibly, the price may grow towards 59.60. After that, the instrument may fall to reach 58.86. The target is at 57.57.
XAU USD, “Gold vs US Dollar”
Gold has completed the ascending impulse. Possibly, today the price may break the top of this impulse and grow to reach 1259.15. Later, in our opinion, the market may form the fifth structure towards 1222.35. In fact, the instrument is trading inside a wide consolidation range around 1259.15 and may start falling to reach its downside border.
Brent has formed another consolidation range at the lows. Possibly, the price may break it and continue growing towards 49.10. The instrument is expected to start a new ascending wave with the target at 52.00.
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.