EUR USD, “Euro vs US Dollar”
Being under pressure, the EUR/USD pair is still moving upwards. We think, today the price may test 1.1418 from above and then form another ascending structure to reach 1.1467, which is near the upside border of the Triangle pattern. If the pair rebounds to the downside, the instrument may start falling towards 1.1290.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating at the top of the ascending wave. Possibly, today the price may test 1.3000 from above. Later, in our opinion, the market may form another ascending structure to reach 1.3045 and then start a new decline towards 1.2900.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has rebounded from the downside border of the Expanding Triangle pattern and returned to 0.9575. Possibly, the price may form another descending structure towards 0.9535. After that, the instrument may start a new ascending wave with the target at 0.9655.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to 111.80 and right now is forming another descending impulse. Possibly, the price may break the low of the first one. Later, in our opinion, the market may reach 111.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the target of the ascending wave and right now is consolidating at the top. We think, today the price may fall towards 0.7650. After breaking it, the instrument 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 the half of the fifth descending structure. Possibly, today the price may break 58.86 and then reach the target at 58.15. Later, in our opinion, the market may be corrected to reach 59.25.
XAU USD, “Gold vs US Dollar”
Gold is still trading near the lows. We think, today the price may fall to reach 1238.25 and then return to 1246.70, thus forming another consolidation range in the form of the Triangle pattern. If later the market breaks this pattern to the upside, the instrument may be corrected towards 1259.15; if to the downside – continue its decline with the target at 1222.35.
Brent continues moving upwards to reach the local target at 48.50. After that, the instrument may be corrected towards 46.87 and then form the fifth ascending wave to reach 49.20. Later, in our opinion, the market may start another correction with the target at 46.87.
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.