Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
The currency pair completed a wave of decline to 1.1901. Today the market is trading in a structure of declining to 1.1820, after which growth to 1.1867 should follow. Then another wave of declining to 1.1806 is likely to develop.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair keeps developing another declining wave to 1.3690. Upon reaching this level, the price should form a link of correction to 1.3804 and then develop another declining wave to 1.3600.
USD/RUB, “US Dollar vs Russian Ruble”
The currency pair has completed growth to 77.77. Today we expect another wave of decline to 76.35 to develop, followed by a correction to 77.22, then a decline to 75.26.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair keeps forming a consolidation range around 109.73. With an escape upwards, it might correct to 110.39. With an escape downwards, the downtrend might continue to 108.60.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair has completed a structure of a declining wave to 0.9300. Today the market is trading in a consolidation range around this level. With an escape upwards, it might grow to 0.9393. With an escape downwards, the trend might continue to 0.9200.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair is trading in a consolidation range under 0.7655. With an escape downwards, it might further decline to 0.7454. Then growth to 0.7655 should follow.
Brent
Oil keeps developing a consolidation range around 63.00 with no clear trend. Today the decline might continue to 60.00. After this level is reached, a wave of growth to 65.50 should start.
XAU/USD, “Gold vs US Dollar”
Gold keeps developing a wave of growth to 1755.73. At the moment, the market is forming a consolidation range around 1735.00. We expect an escape upwards and trend continuation to 1755.73. After this level is reached, a link of correction to 1720.20 should follow. Then we expect growth to 1900.00.
S&P 500
The stock index has formed a consolidation range around 4077.3. Today the market is escaping it upwards. Practically, a potential for growth to 4160.3 appears. The goal is local. After this level is reached, we expect a wave of decline towards 3860.0 to start.
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.