Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After breaking the consolidating range to the upside and finishing the ascending wave at 1.1747, EURUSD is forming a new consolidation range there. Possibly, the pair may break this range to the downside and reach 1.1717. Later, the market may break the latter level as well and start a new decline with the target at 1.1666.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the ascending correctional structure, GBPUSD is consolidating below 1.3743. Today, the pair may break this range to the downside and reach the target at 1.3650. After that, the instrument may break the latter level as well and form a new descending structure towards 1.3590.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is still consolidating around 72.77. If later the price breaks this range to the downside, the market may start a new decline towards 72.30; if to the upside – continue the correction with the target at 73.00.
USD/JPY, “US Dollar vs Japanese Yen”
After breaking the consolidation range to the upside and reaching 110.40, USDJPY is forming a new consolidation range there. Possibly, the pair may extend this structure up to 110.50 and then resume trading downwards to break 109.50. After that, the instrument may continue falling with the target at 108.85.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating around 0.9243 without any particular direction. Possibly, today the pair may break the range to the upside and resume trading within the uptrend with the short-term target at 0.9330.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has expanded its consolidation range up to 0.7305. Today, the pair may fall to break 0.7260 and then continue trading within the downtrend with the target at 0.7220.
Brent
After completing the ascending wave at 77.60, Brent is consolidating there. Possibly, the asset may expand the range up to 77.70 and then start a new correction towards 75.50. Later, the market may form one more ascending structure with the target at 85.00.
XAU/USD, “Gold vs US Dollar”
After breaking the consolidation range to the downside and completing the descending structure at 1737.10, Gold is growing towards 1756.56 and may later start a new correction to reach 1747.10. After that, the instrument may resume trading upwards with the target at 1765.00.
S&P 500
After breaking the consolidation range to the upside and completing the ascending structure at 4465.5, the S&P index is falling towards 4411.1. Later, the market may start another growth to reach 4486.0 and then resume falling with the target at 4400.0.
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