Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After forming a new consolidation range below 1.2180 and breaking it to the upside, EURUSD is still correcting with the short-term target at 1.2222. Later, the market may resume trading downwards to test 1.2180 from above and then start another growth to complete the correction at 1.2230. After that, the instrument may form a new descending structure with the target at 1.2111.
GBP/USD, “Great Britain Pound vs US Dollar”
After breaking 1.3570 to the upside, GBPUSD is still growing towards 1.3694. Later, the market may start another decline to break 1.3570 and then form a new descending structure with the target at 1.3451.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB has completed the descending structure at 73.73. Possibly, today the pair may form a new consolidation range around this level. If later the price breaks this range to the downside, the market may resume falling with the short-term target at 72.23.
USD/JPY, “US Dollar vs Japanese Yen”
After breaking 104.00 to the downside, USDJPY has reached the short-term downside target at 103.54. Today, the pair may form one more ascending structure towards 103.92 and then start a new decline to reach 103.44. Later, the market may resume trading upwards with the target at 104.64.
USD/CHF, “US Dollar vs Swiss Franc”
After forming a new consolidation range above 0.8879 and breaking it to the downside, USDCHF is still falling towards 0.8844. After that, the instrument may form one more ascending structure to return to 0.8879 and then start a new decline with the target at 0.8840.
AUD/USD, “Australian Dollar vs US Dollar”
After completing the ascending wave at 0.7770, AUDUSD is consolidating around this level. If later the price breaks this range to the downside, the market may form a new descending structure to break 0.7713 and then continue trading downwards with the short-term target at 0.7650.
BRENT
Brent has finished the ascending wave at 57.00. Possibly, today the asset may consolidate above this level. After that, the instrument may break the range to the downside to start a new correction towards 55.00 and then form one more ascending structure with the target at 57.50.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1840.60. Today, the metal may break 1857.50 and then grow with the target at 1878.97. Later, the market may form a new descending structure to test 1857.50 from above and then resume trading upwards to reach 1897.30.
BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is trading to break 33500.00 to the downside and may later continue falling towards 30900.00. After that, the instrument may return to test 33500.00 from below and then resume trading downwards with the target at 30000.00.
S&P 500
The S&P index is still consolidating above 3784.9 without any particular direction. Possibly, the asset may break the range to the downside and resume falling with the short-term target at 3745.0. After that, the instrument may return to 3784.0 to test it from below and then continue trading downwards to reach 3738.3.
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