Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EUR/USD has completed a corrective movement to 1.0615. Today the market is forming a link of decline to 1.0535. Next, a link of growth to 1.0620 might follow. After the quotes reach this level, a correction to 1.0555 is expected. Practically, a wide consolidation range is developing around 1.0555. An escape from the range downwards might open the potential for a declining wave to 1.0434. With an escape upwards, a wave of growth to 1.0710 could follow.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has completed a structure of growth to 1.2271. A decline to 1.2133 is expected. Next, a rise to 1.2288 could follow. After the price reaches this level, a decline to 1.2199 might form. Practically, a wide consolidation range is forming around 1.2199. An escape from the range downwards might open the potential for a declining wave to 1.2016. With an escape upwards, a wave of growth to 1.2400 could follow.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY continues a wave of growth to 149.94. Next, a decline to 149.29 might follow. Practically, a consolidation range is forming around 149.29. With an escape upwards, the potential for a wave of growth to 150.70 might be expected. With an escape downwards, a corrective movement to 147.30 is not excluded.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF completed a wave of correction to 0.9090. Today the market has formed a structure of growth to 0.9153. At the moment, a consolidation range is forming around this level. A link of growth to 0.9200 is expected, followed by a decline to 0.9080. Practically, a wide consolidation range is forming around 0.9153. With an escape downwards, the correction might continue to 0.8939. With an escape upwards, the potential for a wave of correction to 0.9286 could open.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has completed a wave of correction to 0.6500. Today the market is forming a wave of decline to 0.6360. Next, a link of growth to 0.6512 and a decline to 0.6425 might follow. Practically, a wide consolidation range is forming around this level. With an escape upwards, the growth could continue to 0.6565. With an escape downwards, the potential for a decline to 0.6300 could open.
Brent
Brent continues forming a consolidation range around 92.70. A link of decline to 90.00 is not excluded today. Next, a link of growth to 96.96 is not excluded. And if this level also breaks, the potential for a wave to 104.00 might open. This is a local target.
XAU/USD, “Gold vs US Dollar”
Gold has completed a wave of decline to 1850.00. Today the market is forming a consolidation range around this level. With an escape from this range downwards, the potential for a decline to 1747.00 might open, from where the trend could continue to 1715.90. This is a local target.
S&P 500
The stock index continues developing a consolidation range around 4290.0. A link of growth to 4343.0 might follow today. Next, a decline to 4228.0 is expected. This is a local target. And then, a rise to 4343.0 is not excluded.
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.