EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still forming its ascending structure. We think, today the price may reach 1.0962 and then fall towards 1.0907. All possible extensions to the upside should be considered as an alternative scenario. The market may start plummeting and resume the downtrend at any moment.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has attempted to break 1.2845 upwards. Possibly, the price may reach 1.2900. All possible extensions to the upside should be considered as an alternative scenario. According to the main scenario, the price may continue falling towards 1.2700.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has reached the target of the fourth wave. Possibly, today the price may grow inside the first structure towards 1.0000. After that, the instrument may be corrected inside the second structure to reach 0.9955 and then continue moving upwards inside the fifth one with the target at 1.0055.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has broken its consolidation range upwards. Possibly, the price may reach 111.46 and then fall towards 110.52., thus forming another consolidation range. Later, in our opinion, the market may break it downwards and then continue falling with the first target at 109.60.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed another descending structure; it has almost formed another consolidation range in the form of the Triangle pattern. Possibly, today the price may choose an alternative scenario and form another ascending structure of the pattern with the target at 0.7559. However, according to the main scenario the price may break 0.7500 and then continue falling inside the downtrend with the target at 0.7408.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is consolidating. We think, today the price may fall to reach 55.50 or even extend this structure towards 54.50. After that, the instrument may form a reversal pattern to start a new correction with the target at 61.00.
XAU USD, “Gold vs US Dollar”
Gold has reached its local downside target. Possibly, today the price may grow towards 1275 and then form another descending structure with the target at 1257.
Brent has reached the target of the descending wave; it has already completed the first ascending impulse along with the correction. The entire trading range may be considered as the Head & Shoulders reversal pattern. Possibly, the price may break the Neckline and reach the target at 54.00. Later, in our opinion, the market may consolidate and, probably, be corrected. After that, the instrument may start growing to reach the first target at 56.06.
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.
Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions