Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the descending structure at 1.2146 along with the ascending impulse towards 1.2195, EURUSD is consolidating below the latter level. If the price breaks this range to the upside, the market may start another growth to reach 1.2244. On the other hand, if the asset falls and beaks 1.2146, the instrument may continue correcting with the target at 1.2100.
GBP/USD, “Great Britain Pound vs US Dollar”
After reaching 1.4071 and rebounding from this level, GBPUSD is growing to break 1.4200 and may later continue trading upwards to reach 1.4280. However, if the asset falls and breaks 1.4080, the market may form a new descending structure with the target at 1.4030.
USD/RUB, “US Dollar vs Russian Ruble”
After reaching the predicted downside target at 71.71, USDRUB is expected to consolidate above this level. If later the price breaks this range to the upside, the market may start a new correction towards 75.00; if to the downside – resume falling to reach 71.40.
USD/JPY, “US Dollar vs Japanese Yen”
After completing the ascending wave at 109.78 along with the descending structure towards 109.45, USDJPY is expected to consolidate around the latter level. Today, the pair may expand the range down to 109.11 and then form one more ascending structure to return to 109.78.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.8970. Possibly, today the pair may expand the range down to 0.8888 and then resume trading upwards with the short-term target at 0.9052.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD has finished the descending structure at 0.7715 along with the ascending impulse towards 0.7760; right now, it is consolidating below the latter level. If the price breaks this range to the upside, the market may start another growth to reach 0.7785. On the other hand, if the asset falls and beaks 0.7715, the instrument may continue trading downwards with the target at 0.7648.
Brent
Brent is still consolidating above 71.50. Possibly, today the asset may correct towards 70.00 and then resume trading upwards with the target at 75.55.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1890.00. If later the price breaks this range to the upside, the market may start a new growth towards 1927.81; if to the downside – continue the correction to reach 1852.64.
S&P 500
The S&P index is still consolidating around 4222.0. Possibly, today the asset may break this range to the upside and resume growing towards 4275.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4303.3.
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