Forex Technical Analysis & Forecast 24.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

24.05.2018

EURUSD, “Euro vs US Dollar”

EURUSD has finished another descending structure and reached 1.1695. Possibly, today the price may form a new consolidation range near the lows. If later the instrument breaks this range to the upside, the market may be corrected to reach 1.1752; if to the downside – resume falling inside the downtrend with the target at 1.1562.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed one more descending structure. Today, the price may form another consolidation range near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3477; if to the downside – resume falling inside the downtrend with the target at 1.3262.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the ascending impulse along with the correctionб thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may resume growing to reach 1.0030; if to the downside – continue the correction with the target at 0.9812.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still moving downwards; the target is at 109.34. After that, the instrument may start another growth to reach 110.45 and then form a new descending wave with the short-term target at 108.10.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming the third ascending wave. Today, the price may reach the short-term target at 0.7645. Later, the market may resume falling to return to 0.7546.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is also forming the third descending wave. Possibly, today the price may reach 60.85 and then grow towards 61.57. After that, the instrument may resume falling inside the downtrend with the short-term target at 60.15.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1292.00. If later the instrument breaks this range to the upside, the market may start another growth to reach 1302.00; if to the downside – resume falling inside the downtrend with the target at 1260.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

BRENT

Brent is still consolidating above 78.00. Possibly, the price may test this level from above. If later the instrument breaks this range to the downside, the market may continue the correction to reach 76.00; if to the upside – start another growth with the target at 81.00

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

RoboForex Analytical Department

 

Attention!

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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