Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the descending wave at 1.2060 along with the correction towards 1.2105, EURUSD is still consolidating around 1.2080. Possibly, the pair may form one more ascending structure to return to 1.2105. If later the price breaks this range to the upside, the market may resume growing to reach 1.2150; if to the downside – continue trading within the downtrend with the short-term target at 1.2012.
GBP/USD, “Great Britain Pound vs US Dollar”
After reaching the short-term downside target at 1.4010, GBPUSD is expected to correct towards 1.4077. Later, the market may resume falling with the target at 1.3982.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is still trading downwards to reach 73.40. After that, the instrument may start another growth towards 74.40 and then resume trading within the downtrend with the target at 73.00.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is forming a new descending structure towards 109.33 and may later resume trading upwards with the short-term target at 110.29.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is correcting towards 0.9044. After that, the instrument may resume growing to reach 0.9136 and then start a new decline with the target at 0.9085.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is still consolidating around 0.7735. If later the price breaks this range to the downside, the market may resume falling with the short-term at 0.7650 and then start a new correction to return to 0.7735.
Brent
Brent is falling towards 66.20 and may later grow towards 68.40, thus forming a new consolidation range around these two levels. After that, the instrument may break the range to the upside and form one more ascending structure with the target at 70.44.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1817.22. If later the price breaks this range to the upside, the market may resume trading upwards with the short-term target at 1863.00; if to the downside – continue the correction to reach 1791.00.
S&P 500
After completing the descending wave at 4047.0, the S&P index is growing towards 4144.8, thus forming a new consolidation between these two levels. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 4309.0; if to the downside – continue the correction to reach 4000.0.
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.