EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating to break the low of the first descending wave. Possibly, the price may fall inside the third wave towards 1.1075. Later, in our opinion, the market may be corrected to reach 1.1162 and then continue moving downwards with the target at 1.1050.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming the third descending wave with the target at 1.2700. After that, the instrument may be corrected towards 1.2860.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming the third ascending wave. Possibly, the price may reach 0.9800. Later, in our opinion, the market may consolidate and then continue growing with the target at 0.9900.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has almost completed the correction. However, the structure consists of three waves only. Possibly, the price may choose an alternative scenario and form the fifth wave towards 110.72. After that, the instrument may grow with the target at 112.42.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is trading to the downside. Possibly, the downtrend may continue without any corrections. The target of the first wave is at 0.7370. The main downside target is at 0.7200.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the closest target of the correction. We think, today the price may continue falling inside the downtrend to reach 55.50. An alternative scenario suggests that the instrument may grow towards 57.50 and then continue moving downwards with the target at 55.50.
XAU USD, “Gold vs US Dollar”
Gold has expanded its range to the upside. After the market opening, the price is expected to test 1261.40 from above. After that, the instrument may move upwards with the target at 1274.60.
Brent has completed the correction with the target at 52.53. Possibly, the price may form the fifth structure and fall towards 50.25 to finish the correction. Later, in our opinion, the market may form another ascending wave to reach 55.68.
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.