Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
After breaking the consolidation range to the downside at 1.1244 and completing the descending wave at 1.1130, EURUSD is expected to form a new consolidation range there. A breakout of this range to the upside may result in a new rising wave towards 1.1310. Today, the pair may form the first ascending structure to reach 1.1188 and then correct with the target at 1.1160.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the first descending wave at 1.3360, GBPUSD is growing towards 1.3550. Possibly, today the pair may form the first ascending structure to reach 1.3450 and then resume trading downwards with the first target at 1.3410.
USD/RUB, “US Dollar vs Russian Ruble”
Having broken 78.14 and completed a downside continuation pattern, USDRUB is expected to fall and reach the short-term target at 77.14. After that, the instrument may correct to test 78.14 from below and then resume trading downwards with the target at 76.58.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY continues trading upwards. Possibly, today the pair may reach 115.55 and then start another decline with the target at 114.50.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF has reached the upside target at 0.9333. Today, the pair may form a new descending structure with the target at 0.9215.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has broken 0.7090 to the downside; right now, it is extending the descending wave to 0.7002. Possibly, the pair may reach this level and start a new growth with the target at 0.7090.
Brent
Brent is still consolidating above 88.80. Today, the asset may start another growth to break 99.90 and then continue trading within the uptrend with the target at 92.55.
XAU/USD, “Gold vs US Dollar”
After forming the consolidation range around 1825.70 and breaking it to the downside, Gold continues the correction down to 1792.00. Today, the metal may form a new consolidation range above the latter level. If later the market breaks the range to the upside, the price may form one more ascending structure with the target at 1815.70.
S&P 500
The S&P index is consolidating around 4360.0. Possibly, the asset may grow towards 4437.9. After that, the instrument may start a new decline to break 4288.3 and then continue trading downwards with the first target at 4148.0.
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