EURUSD, “Euro vs US Dollar”
EURUSD continues forming the third descending wave with the target at 1.1330. After that, the instrument may form another continuation pattern around this level. Later, the market may break it to the downside and then resume trading downwards with the short-term target at 1.1272.
GBPUSD, “Great Britain Pound vs US Dollar”
After reaching the target if the first descending wave, GBPUSD has completed another ascending impulse along with the correction, thus forming a new consolidation range. If later the price breaks 1.2660 to the downside, the instrument may form a new descending structure to reach 1.2600; if 1.2700 to the upside – continue the correction with the target at 1.2727.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken 0.9776 upwards and may continue growing with the short-term target at 0.9838. After that, the instrument may start a new decline to reach 0.9780 and then form one more ascending structure with the first target at 0.9860.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading upwards; it has almost reached the first correctional target at 108.04. Possibly, today the pair may form a new consolidation range around this level. If later the price breaks the range to the upside, the instrument may continue trading inside the uptrend reach 108.80; if to the downside – start another correction towards 107.45.
AUDUSD, “Australian Dollar vs US Dollar”
After forming the consolidation range around 0.6955, AUDUSD has broken it to the upside and right now is moving to extend the wave towards 0.7000. Later, the market may form a new descending structure with the target at 0.6955.
USDRUB, “US Dollar vs Russian Ruble”
After expanding the range towards 63.15, USDRUB has reached 62.94. If later the price breaks 63.20 to the upside, the instrument may continue the correction towards 63.47 if 62.90 to the downside – resume trading inside the downtrend with the target at 62.30.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating in the center of the range. After breaking 1405.75 downwards, the pair may form a new descending structure to reach 1399.95 and then start another growth to return to 1405.75. Later, the market may resume trading downwards with the first target at 1396.50. However, if the price breaks 1410.00 upwards, it may continue the correction towards 1420.00.
Brent is still consolidating around 65.65; it has expended the range downwards and upwards at 65.30 and 66.50 respectively. Right now, it is trading in the center at 65.65. If later the price breaks the range to the upside, the instrument may continue trading inside the uptrend to reach 67.67; if to the downside – start a new correction with the target at 64.00.
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.