EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the correction. We think, today the price may form another descending structure with the target at 1.1100. An alternative scenario implies that the instrument may extend the structure towards 1.1212. Later, in our opinion, the market may continue its decline to reach the first target at 1.1100.
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 1.2825 and then fall towards 1.2730, 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 is being corrected. Possibly, today the price may fall towards 0.9720. after that, according to the main scenario the instrument may continue growing to reach the local target at 0.9830. Later, in our opinion, the market may fall towards 0.9735 and then start another growth with the first target at 0.9850.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is growing to reach 111.59. After that, the instrument may move downwards with the target at 110.20 and then start consolidating. If later the market breaks this range to the downside, it may form the fifth descending wave to reach 106.50.
AUD USD, “Australian Dollar vs US Dollar”
Possibly, today the AUD/USD pair may reach 0.7637. 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 descending impulse. After breaking the low of this impulse, the instrument may fall towards 56.94 and then start another growth with the target at 57.88. Later, in our opinion, the market may fall to reach 55.50.
XAU USD, “Gold vs US Dollar”
Gold is consolidating near its lows. If later the market breaks this range to the downside, the instrument may fall towards 1237.31; if to the upside – return to 1266.10.
Brent is still consolidating at the lows. We think, today the price may grow towards 48.15 and then 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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