Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the ascending impulse at 1.1818, EURUSD is consolidating below this level. Possibly, the pair may expand the range down to 1.1793 and then start a new growth with the short-term target at 1.1833. After that, the instrument may correct towards 1.1811 and then resume trading upwards to reach 1.1850.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.3850 along with the correction towards 1.3820, GBPUSD has rebounded from the latter level; right now, it is growing to return to 1.3850 and forming a new consolidation range. Possibly, today the pair may start another decline to reach 1.3822 and then resume growing with the short-term target at 1.3882. Later, the market may correct to test 1.3850 from above and then form one more ascending structure with the target at 1.3920.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has completed the descending wave at 72.72. Today, the pair may consolidate around this level. If later the price breaks this range to the downside, the market may resume trading within the downtrend towards 72.44 or even reach the target at 72.00.
USD/JPY, “US Dollar vs Japanese Yen”
After finishing the ascending structure at 110.14 along with the descending impulse towards 109.88, USDJPY has corrected to reach 110.10. Possibly, today the pair may resume falling to break 109.81 and then continue trading downwards with the short-term target at 109.64.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF has finished another ascending wave at 0.9238; right now, it is forming a new consolidation range below this level. Possibly, the pair may start another decline to reach 0.9199 and then resume trading upwards with the target at 0.9250.
AUD/USD, “Australian Dollar vs US Dollar”
After finishing the correction at 0.7373, AUDUSD is forming the descending structure towards 0.7332 and may later start a new growth with the target at 0.7405.
Brent
Brent has completed the ascending wave at 74.10 along with the correction towards 73.30, thus forming a new consolidation range around these two levels. Today, the asset may grow to break 74.10 and then continue trading within the uptrend with the target at 75.50. After that, the instrument may start a new correction to return to 73.30.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1790.00. Possibly, today the asset may expand the range up to 1799.00. However, if the price falls and breaks 1785.00, the instrument may continue falling towards 1775.95. Later, the market may resume trading within the uptrend with the target at 1805.00.
S&P 500
The S&P index is still consolidating around 4478.0. Today, the asset may resume falling to reach 4425.0 and then correct to return to 4478.0. After that, the instrument may form a new descending structure with the first target at 4405.4.
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