EUR USD, “Euro vs US Dollar”
The EUR/USD pair has returned into the Pennant consolidation pattern. The main scenario remains the same and implies that the price may continue falling towards 1.1065. Later, in our opinion, the market may be corrected to reach 1.1178 and then continue falling inside the downtrend with the target at 1.0900.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has tested 1.2681 from below. After that, the instrument may fall towards 1.2567 and then start another correction to reach 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating around 0.9724. The main scenario implies that the price may continue growing to reach 0.9792. Later, in our opinion, the market may fall towards 0.9744 and then continue growing with the local target at 0.9850.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is falling to reach 110.78. and that’s just a half of the wave. The local target at 109.89. this decline may be considered as the start of the fifth wave towards 106.50.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming a downside continuation pattern. Possibly, today the price may reach the local target at 0.7508. Later, in our opinion, the market may be corrected towards 0.7566 and then start another decline to reach 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has finished the first descending impulse. We think, today the price may form the second one. the first target is at 58.86. After that, the instrument may grow towards 59.50 and then continue moving downwards to reach 57.56.
XAU USD, “Gold vs US Dollar”
Gold has broken its consolidation range to the upside and may grow to reach 1255.68. Later, in our opinion, the market may fall towards 1237.00 and then start another growth with the target at 1259.15.
Brent has reached the target of the descending wave and today may start a new ascending impulse. The market is expected to form another consolidation range with a reversal pattern near the lows. The first upside target is at 46.90. After that, the instrument may fall to reach 45.60.
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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