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 broken its consolidation range to the downside and right now is forming the third descending wave with the predicted target at 1.1075. We think, today the price may test 1.1167 from below and then fall to reach the local target. Later, in our opinion, the market may be corrected in the fourth wave towards 1.1167 and then form the fifth one with the target at 1.1056.
GBPUSD, "Great Britain Pound vs US Dollar"
The GBP/USD pair is forming the third descending wave with the target at 1.2726. We think, today the price may form the ascending structure to reach 1.2868 and then fall towards the local target. After that, the instrument may be corrected in the fourth wave towards 1.2868 and then form the fifth one with the target at 1.2700.
USDCHF, "US Dollar vs Swiss Franc"
The USD/CHF pair is forming the third ascending wave. Possibly, today the price may grow to reach 0.9800. Later, in our opinion, the market may fall towards 0.9770 and then continue growing with the target at 0.9842.
USDJPY, "US Dollar vs Japanese Yen"
The USD/JPY pair is forming the fifth descending structure with the target at 110.72. After that, the instrument may grow to reach 112.42 and then fall to break 110.50.
AUDUSD, "Australian Dollar vs US Dollar"
The AUD/USD pair has updated the low of the descending wave. Possibly, the price may reach 0.7405. Later, in our opinion, the market may test 0.7432 from below and then move downwards with the target is at 0.7350.
USDRUB, "US Dollar vs Russian Ruble"
Being under pressure, the USD/RUB pair is falling; it has completed a half of another descending structure. We think, today the price may form another consolidation range, break it downwards, and reach 55.50.
XAUUSD, "Gold vs US Dollar"
Gold is consolidating. Possibly, the price may break this range to the downside and test 1262.00 and then grow towards 1274.60. After that, the instrument may be corrected to reach 1255.70 and then move upwards with the target at 1295.20.
BRENT
Brent has completed the correction with the target at 52.53 and right now is consolidating. Possibly, today the price may break this range to the downside to complete the fifth descending structure at 50.80. Later, in our opinion, the market may form another ascending wave to reach 55.68.
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.