EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken 1.1200 and then completed the fifth ascending structure with the target at 1.1330. We think, today the price may form another consolidation range and grow towards 1.1370. Later, in our opinion, the market may break the downside border of the range and then fall to reach 1.1200.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has formed an upside continuation pattern at 1.2732 and reached the local target. Possibly, today the price may fall towards 1.2732 to test it from above. After that, the instrument may grow to reach 1.2873 and then start another correction to reach 1.2732.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken 0.9675 and completed the fifth descending structure. We think, today the price may form another consolidation range at the lows with a reversal pattern. The market is expected to grow with the first target at 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has broken 111.70 upwards and may yet continue growing to reach 112.72. We think, today the price may grow towards 112.50 and then fall to reach 111.70 to test it from above. Later, in our opinion, the market may move upwards with the target at 112.72. the ascending movement may be considered only as an alternative scenario.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has broken its consolidation range to the upside. Possibly, the price may choose an alternative scenario and grow towards 0.7625. We think, today the price may reach this level. The main scenario implies that the market may continue falling inside the downtrend with the target at 0.7500.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has completed only a half of the correction. Possibly, the price may grow towards 59.25. After that, the instrument may fall to break 58.86. The target is at 58.15.
XAU USD, “Gold vs US Dollar”
Gold is forming an upside continuation pattern at 1247.10. Possibly, today the price may reach the local target at 1257.00. Later, in our opinion, the market may be corrected towards 1247.10 and then form the fifth ascending structure to reach 1259.00.
Brent has formed another consolidation range at the lows. Possibly, the price may break it and continue growing towards the first target at 49.10. The instrument is expected to start a new ascending wave with the target at 52.00.
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.