Forex technical analysis and forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, USD/CAD, Gold, Brent, BTC/USD
|EUR/USD, “Euro vs US Dollar”
EUR/USD is consolidating around 1.0800; it has expanded the range up to 1.0835 and then down to 1.0776, and right now is growing to reach 1.0825. After that, the instrument may fall towards 1.0798, thus continuing the consolidation range in the form of a Triangle pattern. If later the price breaks this pattern to the upside, the market may form one more ascending wave towards 1.0900; if to the downside – resume moving inside the downtrend with the target at 1.0752.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has finished the descending wave at 1.2163. Possibly, today the pair may correct towards 1.2315 and then resume falling to break 1.2163. After that, the instrument may continue moving inside the downtrend to reach the short-term target at 1.2055.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating around 0.9775; it has almost formed a Double Top pattern. Today, the pair may expand the range down to 0.9754. Later, the market may return to 0.9766 and then form a new descending structure with the target at 0.9696.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has completed the correction at 109.35; right now, it is falling towards 108.18. The main scenario implies that the price may reach this level and then start another growth towards 108.70, thus forming a new consolidation range. Later, the market may break the range to the downside and then resume moving downwards with the target at 105.75.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has finished the second descending impulse at 0.5979; right now, it is correcting towards 0.6129. After that, the instrument may start another decline with the short-term target at 0.5919.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is forming a new descending structure towards 75.44. According to the main scenario, the price is expected to reach this level and then resume growing towards 77.30. Later, the market may resume trading downwards with the first target at 74.22.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD continues falling towards 1.4060. Today, the pair may break this level and then continue trading downwards with the target at 1.3888. After that, the instrument may return to 1.4060 and then resume falling with the target 1.3822.
XAU/USD, “Gold vs US Dollar”
Gold has completed the ascending wave at 1675.65 without any corrections. Possibly, today the pair may fall to reach 1645.55 and then grow towards 1659.05. Later, the market may resume trading inside the downtrend with the target at 1615.30.
BRENT
After re-testing 30.63 from above, Brent is forming one more ascending structure to break 33.19. After that, the instrument may continue growing with the first target at 35.86 and then start a new correction towards 30.60 at least.
BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is still forming the ascending structure; it has reached another target at 7400.00. Possibly, the pair may start another decline to reach 7050.00 and then resume growing towards 7530.00 to complete this ascending wave. After that, the instrument may start a new correction with the target at 5600.00.
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