EUR USD, “Euro vs US Dollar”
The EUR/USD pair has formed the “Pole” and reached its descending target, and right now is forming a narrow consolidation range. If later the market breaks this range to the upside, the instrument may be corrected towards 1.1212; if to the downside – continue its decline with the target at 1.1050.
GBP USD, “Great Britain Pound vs US Dollar”
Being under pressure, the GBP/USD pair is still forming its consolidation range and moving to the upside. Possibly, the price may reach 1.2820 and then fall towards 1.2720, thus defining the borders of the range. If later the market breaks this range to the upside, the instrument may be corrected towards 1.2900; if to the downside – continue moving downwards with the target at 1.2540.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken the top of the second ascending impulse, and right now is forming another consolidation range and testing 0.9737, which is a part of the Head & Shoulders pattern, from above. According to the main scenario, the price may continue growing to reach the local target at 0.9832. Later, in our opinion, the market may be corrected towards 0.9740.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is growing to reach 111.50. After that, the instrument may move downwards with the target at 110.20.
AUD USD, “Australian Dollar vs US Dollar”
Possibly, today the AUD/USD pair may reach 0.7639. Later, in our opinion, the market may fall to break 0.7517. The target is at 0.7400.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed the ascending structure, which may be considered as the third wave of the correction. Possibly, today the price may fall in the fourth wave and reach 56.95. After that, the instrument may start another growth inside the fifth one with the target at 57.88.
XAU USD, “Gold vs US Dollar”
Gold is consolidating inside the Expanding Triangle pattern. We think, today the price may grow towards 1266. If later the market breaks this range to the downside, the instrument may fall 1237; if to the upside – start another ascending movement with the target at 1300.
Brent has formed the Expanding Triangle pattern and right now is consolidating in a narrow range at the lows. If later the market breaks this range to the upside, the instrument may be corrected towards 48.22; if to the downside – fall with the target at 45.60. After that, the instrument may grow to reach 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.
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