Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EURUSD has finished the descending wave at 1.0080; right now, it is consolidating around this level. If later the price breaks the range to the downside, the market may resume falling towards 1.0020; if to the upside – start another correction with the target at 1.0140.
GBP/USD, “Great Britain Pound vs US Dollar”
After completing the descending wave at 1.1906, GBPUSD is forming a new consolidation range around this level. If later the price breaks the range to the downside, the market may resume trading downwards to reach 1.1877; if to the upside – start a new correction with the target at 1.1955.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has finished the ascending wave at 136.36; right now, it is consolidating around this level. If later the price breaks the range to the upside, the market may resume growing towards 137.47; if to the downside – start another correction with the target at 134.00.
USD/CHF, “US Dollar vs Swiss Franc”
After completing the ascending wave at 0.9555 and forming a new consolidation range around this level, USDCHF has broken it upwards and may soon continue growing towards 0.9610. Later, the market may fall to return to 0.9555 and then form one more ascending structure with the target at 0.9625.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending wave at 0.6885; right now, it is consolidating there. Today, the pair may break the range to the downside and start a new decline with the target at 0.6834, or even extend this structure down to 0.6814.
Brent
Having formed a new consolidation range around 95.95 and breaking it upwards, Brent continues growing to reach 100.20. After that, the instrument may start another correction down to 96.00 and then resume trading upwards with the target at 101.11.
XAU/USD, “Gold vs US Dollar”
Gold has completed the descending wave at 1757.33; right now, it is consolidating there. If later the price breaks the range to the downside, the market may resume falling towards 1743.83; if to the upside – form one more ascending structure with the target at 1777.00.
S&P 500
The S&P index is falling towards 4248.4. After that, the instrument may start a new correction up to 4288.0 and then resume falling with the short-term target at 4161.0.
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.