Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
The currency pair us forming a consolidation area around 1.1880. Today a decline to 1.1840 looks probable, followed by a link of growth towards 1.1925. After this level is reached, we expect a new wave of decline to 1.1750 to begin.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair is correcting to 1.3878. When the correction is over, a link of growth to 1.4000 might follow. And here, the wave of growth will fade. Then we should expect another wave of decline towards 1.3232 to develop.
USD/RUB, “US Dollar vs Russian Ruble”
Having bounced off 73.43 downwards, the currency pair keeps developing a wave of decline towards 72.66. When this one is reached, a technical return to 73.43 (a test from below) is possible, followed by a decline to 71.66.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair is trading in a structure of growth towards 109.96. When this level is reached, wait for another structure of decline to 109.30. And after a breakaway of this one downwards, the decline might continue to 108.05.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair is forming a consolidation range above 0.9044. With an escape upwards, we should expect a link of growth to 0.9105. With an escape downwards, the wave of decline might extend to 0.9025.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair keeps developing a wave of decline to 0.7272. After this level is reached, a correction to 0.7383 will become possible, followed by a decline to 0.7200.
Brent
Today, oil is trading in a structure of growth to 77.27. After this level is reached, a link of correction to 73.00 is possible. Then another wave of growth to 83.50 might begin.
XAU/USD, “Gold vs US Dollar”
Gold has completed a wave of decline to 1809.00. Today the market is trading in a consolidation range above this level. With an escape upwards, growth to 1833.00 is possible. After an escape downwards, a decline to 1790.40 might follow.
S&P 500
The stock index is forming a consolidation range under 4430.0. With an escape upwards, a wave of growth towards 4500.5 will become possible. With an escape downwards, a link of correction to 4333.0 looks possible, followed by growth to 4500.0.
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