Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After reaching 1.2055, EURUSD has returned to 1.2111; right now, it is falling towards 1.2040. Earlier, the asset completed the descending wave at 1.2110, formed a narrow consolidation range, and broke it to the downside. Possibly, today the pair may extend the current correction. Later, the market may complete the correction and start a new growth to break 1.2111. After that, the instrument may continue trading upwards with the target at 1.2200.
GBP/USD, “Great Britain Pound vs US Dollar”
After reaching 1.3666, EURUSD has returned to 1.3720; right now, it is falling towards 1.3644. Earlier, the asset completed the correctional wave at 1.3700, formed a consolidation range around this level, and broke it to the downside. Today, the pair may reach 1.3644 and then resume trading within the uptrend with the target at 1.3777.
USD/RUB, “US Dollar vs Russian Ruble”
After breaking 74.50, USDRUB is still correcting towards 76.04. After that, the instrument may form a new descending structure to return to 74.50 and then resume trading downwards with the target at 73.20.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has finished the ascending wave at 104.35; right now, it is consolidating below this level. Possibly, the pair may expand the range up to 104.44 and then resume trading downwards to break 103.80. Later, the market may continue falling with the target at 103.22.
USD/CHF, “US Dollar vs Swiss Franc”
After completing the ascending wave at 0.8899, USDCHF is consolidating around this level. Possibly, today the pair may expand the range up to .8921 and then form a new descending structure to break 0.8860. After that, the instrument may continue trading downwards with the target at 0.8832.
AUD/USD, “Australian Dollar vs US Dollar”
After finishing the descending wave at 0.7628, AUDUSD is growing towards 0.7694. Later, the market may start another decline to reach 0.76611 and then resume trading within the uptrend with the target at 0.7690.
BRENT
Brent is still consolidating around 55.60; right now, it is trading not far from the downside border at 55.05. Today, the asset may grow to break 55.60 to the upside and then reach 56.25. However, if the price breaks 55.00 to the downside, the market may resume falling and complete the correction at 54.10. After that, the instrument may form one more ascending structure to break 56.25 and then continue trading upwards with the target at 58.60.
XAU/USD, “Gold vs US Dollar”
Gold is still falling towards 1827.33. Later, the market may start another growth to break 1850.80 and then continue trading upwards with the target at 1866.66.
BTC/USD, “Bitcoin vs US Dollar”
After completing the descending wave at 29100.00, BTCUSD is correcting towards 31800.00. Later, the market may start another decline to reach 27400.00 and then resume trading upwards with the target at 32000.00.
S&P 500
After forming a new consolidation range around 3795.0 and breaking it to the downside, the S&P index has reached the target at 3718.6; right now, it is correcting to return to 3795.0. After that, the instrument may start another decline with the target at 3700.0.
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