EUR USD, “Euro vs US Dollar”
The EUR/USD pair is being corrected. We think, today the price may reach 1.1762 and then grow towards 1.1800. In fact, the pair is expected to from the five-wave Flag pattern. After reaching the target of the correction, the instrument may continue its decline. The local target is at 1.1654.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has rebounded from 1.3444 and is still falling. Possibly, today the price may continue moving downwards with the local target at 1.3263.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still being corrected. Possibly, today the price may complete the ascending structure at 0.9724 and then start consolidating. If later the instrument breaks this consolidation channel to the upside, the market may reach 0.9750; if to the downside – form another correctional structure towards 0.9675, and complete the Flag pattern. After that, the instrument may form another ascending structure with the local target at 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming the descending structure towards 112.00, which may later be followed by another growth to reach 112.68. After that, the instrument may consolidate between these two levels. If later the instrument breaks this consolidation channel to the downside, the market may continue falling towards 110.150; if to the upside – move upwards with the target at 113.27.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the descending channel and may be corrected towards 0.7866. Later, in our opinion, the market may continue moving downwards with the local target at 0.7755.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of the ascending wave and almost formed the Flag correctional pattern. At the moment, the price is forming another descending impulse, which may be considered as a part of the fifth wave. The target is at 56.55. After that, the instrument may resume growing with the target at 58.67.
XAU USD, “Gold vs US Dollar”
Gold is being corrected towards 1292.00. Later, in our opinion, the market may fall to reach 1272.00 or even extend this structure towards 1265.50 and complete the first descending wave. After that, the instrument may be corrected with the target at 1311.00.
Brent has completed the first descending impulse. We think, today the price may be corrected towards 57.68 and then fall to reach 57.00, thus forming a new consolidation range between these two levels. If later the instrument breaks this consolidation channel to the downside, the market may be corrected towards 55.88; if to the upside – resume moving upwards with the target at 59.88.
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.