Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EURUSD has reached the short-term upside target at 1.1372. Possibly, today the pair may fall towards 1.1328 and then form one more ascending structure to reach 1.1388 to complete this wave. Later, the market may resume trading within the downtrend with the target at 1.1300.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the ascending structure at 1.3511. Today, the pair may fall to reach 1.3454 and then start another growth towards 1.3560. After that, the instrument may trade downwards to break 1.3450 and then continue falling with the target at 1.3290.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 73.00. Possibly, the pair may expand the range up to 73.73 and then fall towards 72.00. Later, the market may resume trading upwards with the target at 74.20.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 114.25. Today, the pair may expand the range up to 114.65 and then fall to return to 114.25. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 115.22; if to the downside – continue the correction towards 112.90.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF has reached the short-term downside target at 0.9250. Possibly, today the pair may grow to test 0.9280 from below and then correct downwards to reach 0.9233. Later, the market may resume trading upwards with the target at 0.9350.
AUD/USD, “Australian Dollar vs US Dollar”
After completing the descending structure at 0.7248; right now, it is correcting towards 0.7300. After that, the instrument may resume trading downwards with the target at 0.7236.
Brent
Brent has finished the descending structure at 79.40. Today, the asset may grow to test 83.33 from below and then complete the correction by trading downwards with the target at 77.55. Later, the market may start a new growth to reach 85.50.
XAU/USD, “Gold vs US Dollar”
Gold is still falling towards 1846.55 and may later consolidate above this level. If the price breaks this range to the upside, the market may resume trading upwards with the target at 1880.00; if to the downside – continue the correction towards 1815.00.
S&P 500
After finishing the correction at 4673.3 and rebounding from this level to the upside, the S&P index is still moving upwards. Possibly, today the asset may reach 4733.0 and then resume falling towards 4715.0. Later, the market may start another growth with the target at 4750.0.
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.