Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EURUSD is still moving upwards to reach 1.1380. Possibly, the pair may reach it and then form a new descending structure towards 1.1314 and then start another growth to reach 1.1350, thus forming a new consolidating range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1225; if to the upside – form one more ascending structure towards 1.1400.
GBP/USD, “Great Britain Pound vs US Dollar”
After breaking 1.2586 to the downside, GBPUSD is still moving downwards. Possibly, today the pair may test the above-mentioned level from below and then start a new decline to reach 1.2509. Later, the market may form one more ascending structure to return to 1.2586.
USD/RUB, “US Dollar vs Russian Ruble”
After breaking 70.66, USDRUB is expected to continue falling towards 69.94. Later, the market may form one more ascending structure to reach 71.09 and then start a new decline with the target at 69.00.
USD/JPY, “US Dollar vs Japanese Yen”
After finishing the ascending wave at 107.07 and forming an upside continuation pattern around this level, USDJPY has broken 107.10 to reach the short-term target at 107.31; right now, it is trading around 107.20. Possibly, the pair may form a new descending structure to return to 107.07 and then start another growth to reach 107.50. Later, the market may resume falling with the target at 106.90.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating around 0.9414. Today, the pair may grow to reach 0.9440 and then fall towards 0.9400, thus forming a new consolidating range. The main scenario implies that the price may break this range to the upside at 0.9440 and form one more ascending structure with the target at 0.9550.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is still consolidating around 0.6964; it as already reached the downside border of the range at 0.6926 and right now is growing to break 0.6964. Later, the market may continue trading upwards to expand the range up to 0.7000.
BRENT
After finishing another correctional structure at 42.00, Brent is expected to form one more ascending wave to break 43.50. Later, the market may continue moving upwards with the short-term target at 45.00 and then start a new decline to test 43.50 from above.
XAU/USD, “Gold vs US Dollar”
After breaking 1802.50, Gold is still falling towards 1794.00. Later, the market may form one more ascending structure to return to 1802.00 to test it from below and then start another decline with the target at 1792.50.
BTC/USD, “Bitcoin vs US Dollar”
After breaking 9180.00, BTCUSD is still falling towards 9060.00. After that, the instrument may correct to test 9180.00 from below and then start a new decline with the target at 8700.00.
SP 500
After reaching the short-term upside target at 3236.4, the S&P 500 Index is correcting to reach 3145.7. After that, the instrument may form one more ascending structure to reach 3240.4 and then resume trading downwards with the target at 3117.7.
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