Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the descending structure at 1.1684 along with the correction towards 1.1709, EURUSD has formed a new consolidation range around 1.1704. Possibly, today the pair may start a new decline to break 1.1684 and then continue falling with the target at 1.1660.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating above 1.3666. Today, the pair may fall to reach this level. After breaking the range to the downside, the instrument may form a new descending structure with the short-term target at 1.3604.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB is falling towards 72.37 and may later start a new correction to reach 72.70. Later, the market may start another decline to break 72.30 and then continue trading downwards with the target at 72.00.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is still moving upwards. Possibly, today the pair may reach 111.28 and then form a new descending structure with the target at 110.10.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 0.9267. Possibly, the pair may expand the range down to 0.9246. Later, the market may start a new growth to break 0.9290 and then and continue trading within the uptrend with the target at 0.9330.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD has completed the ascending structure at 0.7298; right now, it is consolidating there. If later the price breaks this range to the upside, the market may extend this structure up to 0.7363; if to the downside – resume trading within the downtrend with the target at 0.7220.
Brent
Brent is growing towards 80.22. After that, the instrument may start a new decline to reach 79.20 and then one more ascending structure with the target at 81.25.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1750.00. Today, the metal may expand the range up to 1765.40 and then form a new descending structure to return to 1750.00. After that, the instrument resume trading upwards with the target at 1769.39. If later the price falls and breaks 1744.00, the market may continue moving downwards to reach 1726.42.
S&P 500
The S&P index has finished the ascending structure at 4486.0. Possibly, today the asset may start another decline to reach 4424.0 and then resume growing with the target at 4455.5. Later, the market may form a new descending structure towards 4300.0.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.