EUR USD, “Euro vs US Dollar”
The EUR/USD pair has failed to continue growing according to an alternative scenario and right now is trading to break the low of the first descending impulse. Possibly, the price may form the third wave to reach 1.0735. Later, in our opinion, the market may be corrected towards 1.0765 and the continue falling with the target at 1.0705. This wave may be considered as the first one inside the downtrend.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has failed to continue moving according to an alternative scenario and expand the structure, so the correction completed. Right now, the market is forming another structure towards 1.2419. Possibly, today the price may start forming the first wave with the target at 1.2322.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the ascending impulse along with the correction and right now is growing inside the third wave with the local target at 0.9979. Later, in our opinion, the market may be corrected towards 0.9944 and then resume moving upwards to reach 1.0000. In fact, the instrument is forming the first wave inside the uptrend.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed the ascending impulse and the correction. Possibly, today the price may form the second ascending impulse. The target of the wave is at 112.03. After that, the instrument may be corrected towards 111.35.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the predicted downside target by forming the third wave structure. The structure of the third wave implies that it may reach 0.7606. Later, in our opinion, the market may be corrected towards 0.7645 and then start the fifth wave with the target at 0.7541.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is falling towards 56.89. After that, the instrument may return to 57.55 and then continue falling with the target at 55.42.
XAU USD, “Gold vs US Dollar”
Gold is trading to break the low of the first descending impulse. Possibly, the price may form another descending wave to break 1195. The target of the first wave is at 1224. Later, in our opinion, the market may be corrected towards 1238.
Brent is consolidating near its lows. If later the market breaks this consolidation range to the downside, it may reach 49.52 and then start growing towards the first target at 52.80; if to the upside – continue moving upwards with the target at 52.80.
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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