EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed this wave and right now is being corrected. We think, today the price may continue consolidating at the highs of the current ascending wave. After breaking 1.1927, the instrument may form another descending impulse to reach 1.1855.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the correction of the first descending impulse and formed another consolidation range in the form of the Diamond pattern. Possibly, the price may fall to break the low at 1.3444. The target is at 1.3222.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending correctional structure, Possibly, today the price may break the correctional channel to the upside. The next target is at 0.9817.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is trading to rebound from 112.65 to the downside. Possibly, the price may reach 111.52. Later, in our opinion, the market may grow towards 112.12 and then continue falling with the target at 109.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the predicted target at 0.7912. We think, today the price may consolidate around 0.7924. If later the instrument breaks this consolidation channel to the downside, the market may fall towards 0.7755; if to the upside – start another correction with the target at 0.8000.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is moving downwards. Possibly, the price may reach 57.48. Later, in our opinion, the market may choose an alternative scenario and form another ascending structure towards 58.67. The main scenario implies that the instrument may continue falling with the target at 56.55.
XAU USD, “Gold vs US Dollar”
Being under pressure, Gold is moving upwards. Possibly, the price may be corrected towards 1302 and then fall to reach 1284. After that, the instrument may continue the correction towards 1320.
Brent has rebounded from 55.54 upwards and completed the ascending wave at 56.20. Later, in our opinion, the market may be corrected to the downside to reach the first target at 54.00. An alternative scenario suggests that the instrument may form another ascending structure towards 56.40 and then continue falling inside the downtrend.
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.