Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
With all the news, the currency pair escaped the consolidation range upwards and extended the wave to 1.0910. Today a new consolidation range might form around this level. If the price escapes downwards, a link of decline to 1.0810 might follow. And if this level as well breaks, the wave might further develop to 1.0710.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a structure of growth to 1.2330. Today the market is forming a consolidation range around this level. With an escape of the price from the range downwards, a wave of decline to 1.2170 should start. The target is first.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair has completed a structure of decline to 130.42. Today the market is forming a consolidation range around this level. If the price escapes the range upwards, a pathway up to 132.50 should open. The target is local. Then a correction to 131.50 and growth to 134.50 should follow.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair escaped a consolidation range downwards and completed a wave structure to 0.9146. A consolidation range might form around this level today. If the price escapes it upwards, a pathway up to 0.9230 should open.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair continues forming a consolidation range around 0.6690. A link of growth to 0.6777 is not excluded today, followed by a decline to 0.6690. And with a breakaway of this level as well, the wave should continue to 0.6460.
Brent
Brent has reached a local target of the wave of growth to 76.80. Today the market is forming a consolidation range under this level. A link of correction to 74.37 is not excluded. Then growth to 78.80 should follow.
XAU/USD, “Gold vs US Dollar”
Gold has corrected to 1980.90. Today the market is forming a consolidation range under this level. A new structure of decline to 1921.20 should begin forming. The target is first.
S&P 500
The stock index completed a link of growth to 4042.0. At the moment, the price has performed an impulse of decline to 3936.5. A correction of this impulse to 3990.0 is not excluded today. Then a new impulse of decline to 3805.0 should start forming, from where the wave might develop to 3690.0.
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.