Forex Technical Analysis and Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent, BTC/USD
|EUR/USD, “Euro vs US Dollar”
After rebounding from 1.1000 and completing another ascending structure at 1.1062, EUR/USD has finished one more descending impulse along with the correction; right now, it is forming the second descending impulse with the target at 1.0986. Later, the market may start a new growth to return to 1.1062.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has finished another ascending structure; right now, it is forming the descending impulse with the target at 1.2477, which may be considered as a correction. After that, the instrument may continue trading upwards with the target at 1.2704.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF has another correctional structure to the downside to reach 0.9960. Possibly, today the pair may form another ascending wave to break 0.9982. After that, the instrument may continue trading upwards with the target at 1.0015.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is forming the fifth ascending structure towards 108.87. Today, the pair may start a new correction to reach 107.82 and then resume trading towards 108.87 to complete this ascending wave. Later, the market may form a new descending structure with the first target at 106.50.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has completed another ascending wave. Today, the pair may start a new correction to reach 0.6755 at least. Later, the market may form one more ascending structure with the target at 0.6840.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB continues falling; it has formed a narrow consolidation range around 64.12. According to the main scenario, the price is expected to continue trading inside the downtrend with the predicted target at 63.00.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is still correcting. Possibly, today the pair may grow to reach 1.3257 and then form a new descending structure towards 1.3148. After that, the instrument may start another growth with the target at 1.3350.
XAU/USD, “Gold vs US Dollar”
Gold has completed another descending wave at 1480.80; right now, it is consolidating around this level and this range may be considered as a downside continuation pattern. The predicted target is at 1459.33. An alternative scenario implies that the price may start a new correction towards 1495.36 and then resume trading inside the downtrend. The key target of this wave is at 1445.15.
BRENT
Brent is consolidating around 60.36. According to the main scenario, the price is expected to continue trading upwards with the predicted target at 62.70. After that, the instrument may start a new correction to reach 60.60 and then form one more ascending structure with the short-term target at 63.63.
BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is correcting. Possibly, the pair may form a new descending structure towards 8060.00. Later, the market may start another growth to reach 8850.00 and then continue trading inside the downtrend with the target at 8000.00.
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