EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed a strong descending impulse and right now is forming another consolidation range around 1.1216, which may be considered as a downside continuation pattern. The first target is at 1.1140. Later, in our opinion, the market may be corrected towards 1.1216.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating. We think, today the price may form the second part of the descending impulse. The target is at 1.2676. After that, the instrument may grow towards 1.2810.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the ascending impulse, which may be considered as the start of the third wave. Right now, the instrument is forming another consolidation range around 0.9717, which may be considered as an upside continuation pattern. The target is at 0.9795. Later, in our opinion, the market may be corrected towards 0.9717.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is forming the fifth descending wave to reach 108.70. The market has finished another descending structure along with the correction. Possibly, today the price may fall to reach 108.70. After that, the instrument may grow inside the fourth wave with the target at 110.42.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed another ascending structure. We think, today the price may reach 0.7639. Later, in our opinion, the market may fall to break 0.7517.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is moving upwards. Possibly, today the price may reach 57.14. After that, the instrument may fall towards 56.70 and then start another growth with the target at 57.80.
XAU USD, “Gold vs US Dollar”
Gold is consolidating around 1267. We think, today the price may fall towards 1251 and then start another ascending movement to break this consolidation range to the upside. The target is at 1300.
Brent has formed the Expanding Triangle pattern and reached its downside border. Possibly, today the price may towards 48.22, at least. Later, in our opinion, the market may fall to reach 45.60 and complete this descending wave. After that, the instrument may form a reversal pattern and grow with the first target at 52.00.
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.