Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EUR/USD has completed a growth wave to 1.1011. A consolidation range is expected to form around 1.1000 today. Extension of the range to 1.1015 is not excluded. Next, a decline link to 1.0972 might form (a test from below), followed by a rise to 1.1054. At this level, the potential for the growth wave will be exhausted.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is forming a consolidation range around 1.2675. Today it could extend to 1.2707. Next, a decline to 1.2675 might form, and once this level is reached, a rise to 1.2735 could follow.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has corrected to 141.86. A growth link to 143.80 is expected today. Once this level breaks upwards, the potential for a wave to 145.75 could open.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF continues developing a decline wave to 0.8555. Upon reaching this level, the price might form a growth link to 0.8595, followed by a decline to 0.8543. Next, a rise to 0.8700 is expected.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has completed a growth wave to 0.6800. Today the pair could correct to 0.6765. Once this correction is over, a new growth wave to 0.6805 might develop.
Brent
Brent has broken the 79.33 level upwards and extends the growth wave to 80.45. Next, the instrument could correct to 79.20 (a test from above), after which a growth link to 83.00 is expected. This is the first target.
XAU/USD, “Gold vs US Dollar”
Gold continues developing a consolidation range around 2045.75. With a downward escape, a decline link to 1990.00 is not excluded. With an escape upwards, the potential for a growth link to 2076.80 could open, from where the trend might continue to 2118.00.
S&P 500
The stock index is forming a consolidation range around 4736.6. With an escape upwards, the correction could extend to 4763.6. With a downward escape, the decline might continue to 4700.0, from where the trend could extend to 4610.0.
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.