Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the ascending waveу at 1.1844 and rebounding from this level, EURUSD is falling towards 1.1780 and may later start a new growth to reach 1.1812. In fact, the pair is expected to consolidate around the latter level.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.3910 and then rebounding from this level, GBPUSD is forming a new descending structure with the target at 1.3735 and has already reached 1.3792. Possibly, today the pair may start another correction to reach 1.3823 and then resume falling towards the above-mentioned target. Later, the market may form one more ascending structure towards 1.3792.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has completed the descending wave at 72.55 along with the correction towards 72.90. Today, the pair may form a new descending structure to reach 72.25 and start another growth towards 72.80. Later, the market may resume trading within the downtrend with the target at 72.00.
USD/JPY, “US Dollar vs Japanese Yen”
After rebounding from 110.14, USDJPY is still falling and has already reached 109.63; right now, it is consolidating around the latter level. Possibly, the pair may break the range to the downside and resume trading downwards with the short-term target at 109.06.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is still correcting towards 0.9170. Possibly, today the pair may reach this level and start another growth to break 0.9205. After that, the instrument may continue trading upwards with the target at 0.9250.
AUD/USD, “Australian Dollar vs US Dollar”
After finishing the descending wave at 0.7324, AUDUSD is consolidating around this level. Today, the pair may break the range to the downside and resume falling towards 0.7281. Later, the market may correct to return to 0.7324 and then start a new decline with the target at 0.7242.
Brent
Brent has completed the ascending wave at 74.41 along with the correction towards 73.30, thus forming a new consolidation range around these two levels. Today, the asset may grow to break 74.40 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 and then form one more ascending wave to reach 78.00.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating below 1807.98. Possibly, today the asset may fall to test 1798.25 from above and then form one more ascending structure towards 1818.64. Later, the market may fall to break 1798.25 and then continue trading within the downtrend with the target at 1775.95.
S&P 500
The S&P index is falling towards 4425.0 and may later correct to test 4478.0 from below. After that, the instrument may form a new descending structure with the first target at 4405.4.
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