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 has tested 1.0740 from above and right now is consolidating. Possibly, today the price may reach 1.0777 and then fall towards 1.0758. If later the market breaks this consolidation range to the upside, it may grow to reach 1.0834; if to the downside – fall with the target at 1.0708.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has fallen towards 1.2379; so far, it has formed three descending structure. Possibly, today the price may form another one to reach 1.2357. Later, in our opinion, the market may grow towards 1.2488.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed its ascending structure and right now is consolidating above 0.9953. If later the market breaks this consolidation range to the upside, it may grow to reach 1.0081; if to the downside – start another correction towards 0.9881.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has formed the five-wave ascending structure. Possibly, today the price may start a new correction towards 110.75. After that, the instrument may continue growing to break 111.40. The local target is at 112.25.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trying to move upwards. However, the main scenario implies that the price may fall while forming the fifth wave with the target at 0.7541.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair continues reaching new lows. The current wave may be considered as the fifth one inside the downtrend towards 55.50.
XAUUSD, “Gold vs US Dollar”
Gold is forming the descending impulse towards 1244.55. Possibly, today the price may reach this level and start growing with the target at 1252.60, thus forming another consolidation range. If later the market breaks this consolidation range to the downside, it may fall towards 1233.50; if to the upside – reach 1262.60.
BRENT
Brent has almost reached its local target. Possibly, the price may form the third ascending structure as the extension with the target at 52.80. After that, the instrument may be corrected towards 51.50 and then grow with the target at 53.00. The entire wave may be considered as the first one inside the uptrend. The main target is at 56.10.
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.