Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the ascending wave at 1.1880 along with the correction towards 1.1850, EURUSD is growing to reach 1.1900. Possibly, the pair may break this level and then continue trading upwards with the target at 1.1964. After that, the instrument may start a new correction to test 1.1900 from above and then form one more ascending structure to reach 1.2000.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is consolidating around 1.3330. If later the price breaks this range to the upside at 1.3380, the market may resume growing to reach 1.3455; if to the downside at 1.3300 – form a new descending wave with the target at 1.3250.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is consolidating above 75.65. Possibly, today the pair may fall to reach 75.00 and then start a new correction towards 75.40. After that, the instrument may resume moving downwards with the first target at 74.55.
USD/JPY, “US Dollar vs Japanese Yen”
After reaching 104.15 and then finishing the ascending wave at 104.70, USDJPY is falling to return to 104.15. Later, the market may break the latter level to the downside and then continue trading downwards with the short-term target at 103.30.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is still consolidating above 0.9097. Possibly, today the pair may break this level and continue falling with the target at 0.9065. Later, the market may start another correction towards 0.9090 and then form a new descending structure to reach 0.9055.
AUD/USD, “Australian Dollar vs US Dollar”
After breaking its consolidation range to the upside at 0.7320 and then finishing the ascending structure at 0.7365, AUDUSD has returned to 0.7320 to test it from above. Today, the pair may start a new growth to reach 0.7377 and then resume falling with the target at 0.7320.
BRENT
After finishing the ascending wave at 48.55, Brent is expected to form a new consolidation range close to the highs. Later, the market may break the range to the downside and start a new correction with the first target at 45.50.
XAU/USD, “Gold vs US Dollar”
After completing the descending structure at 1807.50, Gold is forming a narrow consolidation range around this level. Possibly, the metal may start a new decline towards 1782.20 and then form one more ascending structure with the first target at 1831.38.
BTC/USD, “Bitcoin vs US Dollar”
After forming another consolidation range around 18400.00, BTCUSD has expanded it up to 19400.00; right now, it is falling to test 18400.00 from above and may later grow towards 18800.00, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the downside, the market may continue the correction to reach 17300.00.
S&P 500
After finishing the ascending wave at 3656.8, the S&P index is expected to consolidate close to the highs. If later the price beaks this range to the downside, the market may resume falling with the first target at 3601.9 and then start a new correction towards 3630.0.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.