Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
The currency pair has completed a wave of correction to 1.0725. Today the market is forming a structure of a new declining wave. At the moment, a consolidation range has formed around 1.0709. An escape from the range downwards to 1.0688 is expected. Next, a technical test on 1.0709 from below is not excluded, followed by a decline to 1.0677.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of correction to 1.2376. Today the market is forming a structure of a declining wave to 1.2285. Next, growth to 1.2333 and a decline to 1.2270 could follow.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair has formed a correctional wave to 139.95. Today we expect this correction to be over and a new wave of growth to 140.80 to start. If this level also breaks upwards, the potential for a wave to 141.63 could open.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair continues developing a consolidation range around 0.9045. A rise to 0.9065 is possible today, followed by a decline to 0.9020. After the price reaches this level, a new wave of growth to 0.9065 could begin. And if this level also breaks, the potential for a rise to 0.9111 might open.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair is forming a consolidation range around 0.6525. The range could extend to 0.6565 today. Next, a decline to 0.6483 and a rise to 0.6525 are expected.
Brent
Brent continues forming a consolidation range around 76.60. A link of growth to 78.10 is not excluded, followed by a decline to 75.00. Next, a wave of growth to 79.50 could start.
XAU/USD, “Gold vs US Dollar”
Gold is forming a structure of a new wave of decline to 1923.27. This is a local target. Next, a rise to 1936.80 is expected, followed by a decline to 1916.15. After the price reaches this level, a new wave of growth to 1950.90 could begin. And if this level also breaks upwards, the potential for a rise to 1985.00 could open.
S&P 500
The stock index continues developing a structure of growth to 4237.0. Next, a decline to 4188.0 is expected, followed by an increase to 4267.5. After the price reaches this level, a wave of decline to 4049.0 could begin.
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