Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After finishing the correction at 1.1571 along with the ascending impulse towards 1.1607, and then forming a new consolidation range around the latter level, EURUSD has broken it to the upside to reach 1.1650. Possibly, today the pair may form another consolidation range. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 1.1666; if to the downside – start a new decline towards 1.1607.
GBP/USD, “Great Britain Pound vs US Dollar”
After completing the correction at 1.3708, GBPUSD is growing to reach 1.3779 and may later resume trading downwards with the target at 1.3666.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB is still correcting. Today, the pair may form one more ascending structure to test 71.50 from below. After that, the instrument may start a new decline to break 70.90 and then continue falling within the downtrend with the target at 70.50.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating below 114.44. Today, the par may fall to reach the downside border at 113.95. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 115.00; if to the downside – start a new correction towards 113.36.
USD/CHF, “US Dollar vs Swiss Franc”
After forming a new consolidation range around 0.9235, USDCHF has broken it to the downside and may later continue falling towards 0.9199. After that, the instrument may form one more ascending structure with the target at 0.9235.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7418. Today, the pair may grow to reach the upside border at 0.7461 and then fall to return to 0.7418. Later, the market may break the range to the downside and start a new correction the target at 0.7323.
Brent
After completing the correction at 83.90, Brent is growing towards 85.00. Later, the market may start another decline to reach 83.83 and then resume trading within the uptrend with the target at 88.20.
XAU/USD, “Gold vs US Dollar”
After forming another consolidation range below 1771.27, Gold has broken it to the upside and may later continue trading upwards with the target at 1782.74. After that, the instrument may start a new correction to return to 1771.27.
S&P 500
After rebounding from 4444.6, the S&P index is growing towards 4504.0. After that, the instrument may start a new decline to break 4474.8 and then continue trading downwards with the target at 4444.6.
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.