Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After reaching the short-term correctional target at 1.1598, EURUSD is expected to form a new descending structure towards 1.1567. Later, the market may start another growth to reach 1.1611 and then resume falling with the target at 1.1500.
GBP/USD, “Great Britain Pound vs US Dollar”
After breaking 1.3639 to the upside, GBPUSD is expected to continue growing towards 1.3691. After that, the instrument may trade downwards to return to 1.3639 and then start a new growth with the target at 1.3710.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB has broken 72.00 to the upside. Today, the pair may correct to reach 72.49 and then resume falling within the downtrend with the target at 71.44.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is still forming a new consolidation rage around 113.33, After expanding the range up to 113.77, the asset has completed the descending structure at 113.20 along with the correction towards 113.55. If later the price breaks this range to the upside, the market may start another growth to reach 114.00; if to the downside – form a new descending structure with the target at 112.90.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is falling towards 0.9230. After that, the instrument may form one more ascending structure to reach 0.9263 and then resume trading downwards with the target at 0.9216.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is still consolidating around 0.7365. Today, the pair may resume growing to reach 0.7408 and then start a new decline with the target at 0.7311.
Brent
Brent has finished the descending structure at 82.40; right now, it is growing towards 85.00. Later, the market may start another decline to return to 83.55.
XAU/USD, “Gold vs US Dollar”
After completing the correction at 1758.00 and starting a new ascending wave with the short-term target at 1803.30, Gold has already reached 1795.00. Possibly, the metal may fall towards 1777.00 and then resume trading upwards to reach the above-mentioned target.
S&P 500
The S&P index is still consolidating around 4354.5; it has already completed the ascending structure at 4380.0 and may continue growing towards 4438.8. After that, the instrument may start another decline to break 4327.0 and then continue trading downwards with the target at 4154.5.
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.