Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EURUSD is growing towards 1.1744 and may later fall to reach 1.1717, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may start a new decline towards 1.1666; if to the upside – resume trading upwards with the target at 1.1770.
GBP/USD, “Great Britain Pound vs US Dollar”
After reaching the short-term downside target at 1.3640, GBPUSD is expected to grow towards 1.3699 and may later start another decline to reach 1.3663, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the upside, the market may grow towards 1.3734; if to the downside – resume trading within the downtrend with the target at 1.3579.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has finished the correction at 73.50. Today, the pair may consolidate below this level. If later the price breaks this range to the downside, the market may start a new decline towards 72.70; if to the upside – continue the correction with the target at 74.00.
USD/JPY, “US Dollar vs Japanese Yen”
After completing the descending wave at 109/36, USDJPY is correcting towards 109.85. After that, the instrument may still resume trading downwards with the target at 108.85.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is correcting towards 0.9260 and may later form one more ascending structure to break 0.9357. Later, the market may continue trading within the uptrend with the target at 0.9408.
AUD/USD, “Australian Dollar vs US Dollar”
After completing another descending structure at 0.7270, AUDUSD is growing to reach 0.7278 and may later fall towards 0.7246, thus forming a new consolidation range between the two later levels. If the price breaks this range to the upside, the market may continue the correction towards 0.7320; if to the downside – resume trading within the downtrend with the target at 0.7180.
Brent
After finishing the correction at 74.00, Brent is consolidating above this level. Possibly, the asset may break the range to the upside and start a new growth towards 76.00 or even reach the target at 77.70. On the other hand, if the price breaks 74.00 downwards, the market may continue the correction to reach 71.50.
XAU/USD, “Gold vs US Dollar”
Золото Gold is still growing towards 1772.85 and may later start a new decline to reach 1757.12. After that, the instrument may form one more ascending structure with the short-term target at 1780.64.
S&P 500
The S&P index has completed the descending structure at 4307.0; right now, it is trading upwards to reach 4396.1. Later, the market may start a new correction with the target at 4349.1.
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