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 1.1770 upwards and may choose an alternative scenario, which implies that the market may form another structure to extend the correction. Possibly, today the price may reach 1.1857 and then fall towards 1.1798. Later, in our opinion, the market may start another growth with the target at 1.1884.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has reached the target of the third ascending wave. We think, today the price may form another consolidation channel and fall towards 1.3265. After that, the instrument may be corrected inside the fourth wave. The target is at 1.3198.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has broken its consolidation channel and expanded it downwards. Possibly, today the price may move upwards to reach 0.9873 and then form another consolidation channel. Later, in our opinion, the market may break it to the upside and then continue growing with the target at 0.9940.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the correctional target. We think, today the price may grow to reach 112.00 and then fall towards 111.523, thus forming another consolidation range. After that, the instrument may break this range upwards and continue growing with the target at 113.20.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the second ascending impulse with the target at 0.7652. Later, in our opinion, the market may fall to reach 0.7604 and then start another growth towards the first target at 0.7676.
USDRUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of the fourth wave. Possibly, today the price may form another consolidation range. After breaking it upwards, the instrument may start the fifth wave with the target at 60.60.
XAUUSD, “Gold vs US Dollar”
Gold has broken 1284 and expanded the range upwards. We think, today the price may fall to return to 1284. According to the main scenario, the price may continue forming the wave towards 1271. An alternative scenario implies that the market may reach 1296, break it, and then continue growing with the target at 1311.
BRENT
Brent is consolidating to break 63.15 upwards. Possibly, the price may break this level and continue growing towards 64.85. After that, the instrument may fall to return to 63.30 and then resume moving to the upside with the first target at 65.30.
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.