Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
EURUSD has expanded a consolidation range towards 1.0905 and broken below the 1.0880 level today. A decline towards 1.0852 is expected, followed by a rise to 1.0880 (testing from below). Next, the price could continue its downward movement to the local target of 1.0795.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD is currently in a consolidation phase around 1.2731. Today the range is expected to expand to 1.2704. Next, the price could rise to 1.2731 (testing from below) and decline to 1.2644, with the trend potentially continuing to 1.2570. This is the first target.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has completed a growth wave, reaching 150.00. Given the consolidation range formed around 149.15 and an upward breakout of the range, upward momentum might continue to 150.66. After reaching this level, the price could correct to 149.15 (testing from above), subsequently maintaining its upward trajectory to 151.77.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF has completed a growth wave, reaching 0.8888. Today the market is forming a consolidation range below this level. An upward breakout will open the potential for a movement towards 0.8919. Once the price hits this level, it could undergo a correction towards 0.8877, subsequently rising to 0.8933.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD continues its downward momentum, aiming for the local target of 0.6506. After reaching this level, the price could undergo a correction towards 0.6570 and subsequently decline to 0.6477. This is the first target.
Brent
Brent has completed a growth wave, reaching 86.60. Today a link of correction to 85.55 (testing from above) is expected. Once the correction is over, the price might maintain its upward trajectory to 87.00, potentially expanding the structure towards 87.66. This is the first target.
XAU/USD, “Gold vs US Dollar”
Gold is currently in a consolidation phase around 2159.10. An upward movement targeting 2165.60 is not ruled out, followed by a decline towards the local target of 2138.00.
S&P 500
The stock index is currently in a consolidation phase around 5151.0. Today a link of decline to 5141.0 could occur. With a breakout of this level, the movement could continue to 5115.0, followed by a rise to 5151.0 (testing from below).
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