EUR USD, “Euro vs US Dollar”
The EUR/USD pair has formed the consolidation range and broken it to the upside; it may expand the range upwards to reach 1.1440. In fact, the market is growing towards the upside border of the Triangle pattern from the daily chart. This entire ascending structure may be considered as the fifth wave of the pattern. Possibly, the instrument may rebound from its upside border and start falling to reach the downside one. We think, today the price may grow towards 1.1440 and then fall to reach 1.1290.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached the target of the ascending wave and right now is still growing. Possibly, the price may reach 1.2998 (an alternative scenario). The main scenario implies that the market may be corrected towards 1.2732. The first target is at 1.2850.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has formed the Expanding Triangle pattern and right now is consolidating near the lows. Possibly, the price may grow towards 0.9678. The first upside target is at 0.9618. After breaking the descending channel, the market may complete the descending wave.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is growing to reach 112.50. Later, in our opinion, the market may move downwards with the target at 111.70. After that, the instrument may start growing towards 112.70.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still moving upwards. We think, today the price may choose an alternative scenario and reach 0.7670. Later, in our opinion, 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 the fourth structure and reached 59.70. Possibly, the price may fall towards the first target at 58.15. After that, the instrument may be corrected to reach 59.20.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating around 1250.20. Later, in our opinion, the market may break this range to the upside and reach 1259.15. Later, in our opinion, the market may fall with the target at 1250.00.
Brent has broken the continuation pattern to the upside and is still forming the third ascending wave with the target at 48.50. After that, the instrument may be corrected towards 46.87 and then start another growth to reach 49.20.
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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