Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the descending structure at 1.1186, EURUSD is expected to correct towards 1.1225. Later, the market may start another decline with the target at 1.1182.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.3315, GBPUSD is correcting towards 1.3346. Later, the market may resume trading downwards with the target at 1.3305.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has completed the descending impulse at 74.13 along with the correction towards. Possibly, today the pair may form a new descending structure to break 73.96 and then continue falling with the target at 72.72.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has finished the ascending wave at 115.50; right now, it is consolidating below this level. Possibly, the pair may break this range to the upside and start a new growth with the target at 116.06.
USD/CHF, “US Dollar vs Swiss Franc”
After reaching the short-term upside target at 0.9366, USDCHF is correcting towards 0.9317. Later, the market may start another growth with the target at 0.9383.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending wave at 0.7183. Possibly, today the pair may correct towards 0.7222 and then start another decline with the target at 0.7171.
Brent
Brent has finished the ascending structure at 82.44; right now, it is consolidating below this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 77.40; if to the upside – form one more ascending structure with the target at 83.20.
XAU/USD, “Gold vs US Dollar”
Gold has expanded the consolidation range down to 1778.40; right now, it is growing to reach 1806.60 and may later start a new decline towards 1792.10. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1777.50; if to the upside – form one more ascending structure with the target at 1823.50.
S&P 500
After expanding the range up to 4698.0 and then completing the descending structure at 4680.9, the S&P index is trading upwards to break 4700.0 and may later continue growing towards 4738.8. After that, the instrument may resume trading downwards to return to 4700.0.
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