EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the first descending wave. Possibly, today the price may be corrected. The second target is at 1.0707. Right now, the instrument is expected to grow towards 1.0615.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken its consolidation range to the downside while forming the fifth wave. Possibly, today the price may continue falling to reach the target at 1.2357. Right now, the instrument may test 1.2430 from below. Later, in our opinion, the market may fall to reach the above-mentioned target and then start another correction towards 1.2486.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken another consolidation range to the upside and continues growing inside the uptrend with the target at 1.0200. considering that the price has been moving without corrections for quite a long time, it may fall towards 1.0077. After that, the instrument may form another consolidation range. If later the pair breaks this range to the upside, the uptrend may continue; if to the downside – start a new correction to reach 1.0010.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has formed the ascending impulse and right now is consolidating around 111.29. If later the price breaks this range to the upside, it may be corrected upwards to reach 112.00; if to the downside – reach 109.78.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still falling; it is “pushing through” the downside border of the consolidation range from the daily chart. Possibly, the price may form another consolidation range around 0.7497. Such structure may be considered as a continuation pattern; its target is at 0.7245.
USD RUB, “US Dollar vs Russian Ruble”
The market was opened with a gap up, so the USD/RUB pair has broken its consolidation range to the upside and almost reach the target of the fourth wave at 57.07. Possibly, today the price may fall and form the fifth wave to reach 55.50 (at least). After that, the instrument may start another ascending correction towards 61.00.
XAU USD, “Gold vs US Dollar”
After reaching a new high, Gold has formed the descending impulse. Possibly, today the price may be corrected towards 1260. Later, in our opinion, the market may form another descending impulse with the local predicted target at 1239.
Brent is trading around 55.00. Possibly, the price may form a continuation pattern. After breaking the current range to the upside, the market is expected to resume its growth to reach the local target at 59.90.
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.