Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After finishing the ascending wave at 1.2222 and then descending structure towards 1.2170, EURUSD has formed a new consolidation around the latter level; right now, it is trading not far from the downside border. If later the price breaks this range to the downside, the market may start a new decline with the target at 1.2111; if to the upside – form one more ascending structure to return to 1.2230 and then resume trading downwards to reach 1.2050.
GBP/USD, “Great Britain Pound vs US Dollar”
After completing the ascending wave at 1.3690, GBPUSD is falling to reach 1.3570. Later, the market may start another growth towards 1.3636 and then form a new consolidation range around this level.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 73.73 without any particular direction. If later the price breaks this range to the downside, the market may start a new decline with the short-term target at 72.23; if to the upside – form one more ascending structure to reach 75.00.
USD/JPY, “US Dollar vs Japanese Yen”
After finishing the ascending wave at 104.18, USDJPY is expected to start a new decline to break 103.80 and then continue falling towards 103.44. Later, the market may resume trading upwards with the target at 104.64.
USD/CHF, “US Dollar vs Swiss Franc”
After completing the descending wave at 0.8850 along with the correction towards 0.8880, USDCHF is expected to resume falling and reach 0.8840. After that, the instrument may form one more ascending structure with the target at 0.8922.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is forming a new descending structure towards 0.7713. Later, the market may start another growth to reach 0.7755 and then form another consolidation range around this level.
BRENT
After finishing the descending impulse at 55.80 along with the correction towards 56.50, Brent is falling to return to 55.80 and break it. After that, the instrument may continue trading downwards with the short-term target at 55.10.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating above 1837.40. If later the price breaks this range to the downside, the market may start a new decline with the target at 1814.88; if to the upside – form one more ascending structure to reach 1897.30.
BTC/USD, “Bitcoin vs US Dollar”
After forming a new consolidation range around 34000.00, BTCUSD is trading to break its upside border. If later the price breaks 36500.00 to the upside, the market may start a new growth with the target at 40500.00; if 34000.00 to the downside – resume trading downwards to reach 30000.00.
S&P 500
After forming a new consolidation range below 3813,0, the S&P index is trying to break it upwards. Possibly, the asset may succeed and form one more ascending structure towards 3850.0. However, if the price falls and breaks 3780.0 to the downside, the market may continue falling with the short-term target at 3744.4.
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