Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After completing the descending wave at 1.1258 and then returning to 1.1293, EURUSD is consolidating between these two levels. Possibly, the pair may grow towards 1.1324 and then resume falling to break 1.1250. Later, the market may continue trading downwards with the target at 1.1199.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the descending structure at 1.3290 and then returning to 1.3320, GBPUSD is consolidating between these two levels. Today, the pair may start a new growth towards 1.3350 and then resume trading downwards to break 1.3290. Later, the market may continue falling with the target at 1.3222.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has completed the descending wave at 74.24. Possibly, today the pair may correct to reach 75.13 and then fall to break 74.20. After that, the instrument may continue trading downwards with the target at 73.14.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has finished the descending wave at 113.00 and may later start a new growth towards 114.20, thus forming a new consolidation range around the latter level. If later the price breaks this range to the downside, the market may continue the correction to reach 112.50; if to the upside – form one more ascending structure with the target at 115.00.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating below 0.9260. Possibly, the pair may expand the range down to 0.9200 and then grow to break 0.9323. Later, the market may continue trading upwards with the target at 0.9420.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7130. If later the price breaks this range to the downside, the market may resume trading downwards to reach 0.7100; if to the upside – start a new correction with the target at 0.7190.
Brent
After finishing the ascending impulse at 76.20 along with the correction towards 72.40, Brent is expected to grow and break 77.00. Later, the market may continue trading upwards with the target at 82.40.
XAU/USD, “Gold vs US Dollar”
Gold is still consolidating around 1795.00. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1770.00; if to the upside – form one more ascending structure with the target at 1840.00.
S&P 500
After completing the correctional structure at 4666.0, the S&P index is expected to resume trading downwards with the target at 4573.2 and then form one more ascending structure to return to 4660.0.
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