EUR USD, “Euro vs US Dollar”
The EUR/USD pair is forming another descending structure; it has broken 1.2400 and may reach 1.2360. Later, in our opinion, the market may grow to test 1.2400 from below and then start another decline to reach 1.2330. An alternative scenario suggests that the price may break 1.2490 upwards and then continue growing to reach 1.2600.
GBP/USD GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming the second descending impulse. We think, today the price may break 1.4067 downwards and then consolidate around it. If later the instrument breaks this range to the downside, the market may reach fall to reach the local target at 1.3846.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating near the lows. Possibly, the price may form another descending structure towards 0.9282 and then grow to reach 0.9355. The market is expected to extend this descending structure towards 0.9267 and complete the downtrend. After that, the instrument may start forming a new ascending weave with the target at 0.9640.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is moving downwards; it has broken 108.94 and may continue falling towards 108.14. Possibly, today the price may reach this level and then start a new growth with the first target at 110.50.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has updated its high and right now is forming another descending impulse with the target at 0.8040. Later, in our opinion, the market may grow towards 0.8080, thus forming another consolidation range at the top of the ascending wave. According to the main scenario, the instrument may fall to reach the first target at 0.7966.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has broken the descending channel. Possibly, today the price may form a new ascending impulse towards 56.56 and then start another correction to reach 56.04. After that, the instrument may resume moving upwards with the target at 57.22.
XAU USD, “Gold vs US Dollar”
Gold is forming the third descending impulse with the target at 1339.00. After reaching this level, the instrument may grow towards 1353.00, thus forming a new consolidation range between them. If later the price breaks this range to the downside, the market may fall to reach 1315.00; if to the upside – start another growth towards 1380.00.
Brent is trading to rebound from 70.55 downwards. Possibly, the price may fall towards 69.70, break it, and then continue the correction to reach 68.50.
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.