Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|EURUSD, “Euro vs US Dollar”
The EUR/USD pair is forming the fifth descending wave with the target at 1.0500; the instrument has already completed the first structure of this wave. Later, in our opinion, the market may be corrected towards 1.0635 and then continue falling towards 1.0530.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still falling towards 1.2344. After that, the instrument may start moving upwards to reach 1.2463.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming the fifth ascending wave with the target at 1.0133; the instrument has already completed the first structure of this wave. Later, in our opinion, the market may be corrected towards 1.0010 and then continue growing to reach 1.0103.
USDJPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is still moving upwards and expected to form the fifth part of the wave with the target at 115.30. Possibly, today the price may reach 113.90 and then fall towards 113.28. After that, the instrument may start another growth with the target at 114.60.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the first descending impulse towards 0.7631. After reaching this level, the instrument may grow with the target at 0.7680. Later, in our opinion, the market may continue falling to reach 0.7500.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing towards 58.73. Possibly, today the price may fall to reach 57.64 and then continue moving upwards.
XAUUSD, “Gold vs US Dollar”
Gold is forming another descending structure towards 1229. After that, the instrument may grow be corrected to reach 1237 and then continue moving downwards with the target at 1212.
BRENT
Brent has reached the first target of the correction. Possibly, the price may fall towards 55.25 and then start consolidating. Later, in our opinion, the market may break this consolidating range to the downside and continue falling to reach 54.00.
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