The euro has reached 1.1725 against the dollar, which may be considered as correction after the previous downmove. Once this correction is over, another downmove towards 1.1560 may occur, and then a rise to 1.1670 may follow.
The pound has reached its downmove target. The pair is currently trading at 1.3333, ready to fall till 1.3220. A triangle pattern is forming at almost all lows. If the price goes up, the correction towards 1.3550 may follow; conversely, the trend may continue, with the price going to 1.3000.
The CHF has reached its target at 1.0067, while the pair is still sliding down, being under pressure. This may lead to a correction towards 0.9960.
The US dollar - Japanese yen pair is also under pressure and is going down, which may lead to correction to 111.11; then, a rise to 111.95 may follow. After that, a consolidation range with a reversal pattern may appear, and once it's broken down, the trend may continue with the price reaching 109.75.This is the first target.
The Aussie has reached 0.7430 and may continue falling towards 0.7340, after which the consolidation range may be expected. If the price goes up after that consolidation, the correction towards 0.7520 may follow; conversely, the price may head down towards 0.7285, aiming to reach a strategic target.
The Russian ruble is still consolidating around 62.00; today, 61.51 may be reached. With further breakout, the price may head lower to reach the local target at 60.60.
The gold is trading around its lows within a consolidation range. The yellow metal may go ahead to reach $1,249, and then fall back to the lower range boundary. Once the range is broken out top down, $1,234 may be reached; conversely, the price may go up towards $1,270.
Brent crude pulled back to $74.70, although today it may rise to its local target at $76.35. Afterwards, another downward move to the same $74.70 may occur, and then a rise to 76.70 may follow. This is the first target.
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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