Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
The currency pair has completed a wave of decline to 1.0837. Today the market is correcting to 1.0883. After the correction is over, a decline to 1.0810 will become possible. Then a consolidation range should form around this level, from which the price should escape to 1.0795. The goal is local.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed an impulse of decline to 1.2344. Today a correction to 1.2415 might follow. After the correction is over, the pair may drop to 1.2340. With a breakaway of this level downwards, the wave might extend to 1.2262. The goal is local.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair continues forming a consolidation range around 130.00. Today a decline to 128.50 should happen. Then growth to 129.50 and a decline to 128.30 should follow.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair is forming a consolidation range around 0.9219. A link of decline to 0.9191 is not excluded. Then the pair should grow to 0.9250, from where the growth might continue to 0.9277.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair continues developing a structure of decline to 0.7070. With a breakaway of this level downwards, a pathway for a wave to 0.7000 will open. The goal is local.
Brent
Brent continues correcting to 85.00. Today this wave of decline might end and a new wave of growth to 90.30 might start, from where it might extend to 93.00. Then a correction to 88.98 should follow.
XAU/USD, “Gold vs US Dollar”
Gold has completed a structure of decline to 1916.58 and a link of growth to 1934.40. Today the market might develop one more structure of decline to 1918.00. And with a breakaway of this level downwards, a pathway down to 1900.00 will open. The goal is local.
S&P 500
The stock index has formed a link of growth to 4095.0. Today it might decline to 3999.0. After this level is reached, a correction to 4030.0 might start, followed by a decline to 3800.0. The goal is local.
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