Forex Technical Analysis & Forecast 11.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

11.05.2018

EURUSD, “Euro vs US Dollar”

EURUSD has broken the top of the first ascending impulse and may continue growing towards the first target of the correction at 1.1964. After that, the instrument may fall to reach the second target at 1.1894, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may continue its growth to reach 1.2140; if to the downside – resume falling towards 1.1740.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is has completed another descending impulse. Today, the price may grow towards 1.3555 and then fall with the short-term target at 1.3407. Later, the market may test 1.3484 from below and then start another decline towards 1.3355.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating near the highs. If the instrument breaks this range to the downside, the market may start a new decline to reach 0.9935; if to the upside – continue growing with the target at 1.0116.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading to rebound from the upside border of its consolidation range downwards. Possibly, today the price may fall to reach 108.80 and then grow towards 109.40. If later the instrument breaks this range to the downside, the market may start another decline to reach the target at 107.20; if to the upside – extend this structure towards 111.00.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken its range to the upside and may continue growing towards 0.7555. After that, the instrument may fall to reach 0.7484, thus forming another consolidation range. If later the price breaks this range to the downside, the downtrend may continue towards 0.7420; if to the upside – start another growth with the target at 0.7590.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached another downside target. Today, the price may grow towards 63.20 and then resume falling inside the third wave towards the short-term target at 60.20.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

XAUUSD, “Gold vs US Dollar”

Gold has reached its upside target. Possibly, today the price may fall towards 1312.00 and then grow to reach 1317.00, thus forming another consolidation range. If later the instrument breaks this range to the downside, the market may resume falling with the target at 1295.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

BRENT

Brent is consolidating above 76.42. Today, the price may test this level from above and then grow towards 78.10. If later the instrument breaks this range to the upside, the market may resume growing to reach 79.45; if to the downside – start another correction towards 74.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

RoboForex Analytical Department

 

Attention!

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.

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