Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|EURUSD, “Euro vs US Dollar”
After failing to continue the correction, EURUSD has formed another consolidation range and broken 1.1323 downwards to complete one more descending structure. Possibly, today the pair may be corrected with the first target at 1.1298 and then fall to reach 1.1282. If later the instrument grows and breaks 1.1300 to the upside, the price may form one more ascending structure towards 1.1325; in case it falls to breaks 1.1282 to the downside – resume trading inside the downtrend with the target at 1.1260 and then continue forming the third descending wave to reach 1.1100.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken 1.2925 and completed the descending structure. Today, the pair may grow to test 1.2925 from below. After that, the instrument may form a new consolidation range and break it upwards. The target is at 1.3000.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading upwards. Possibly, the pair may reach 1.0053 and then start a new decline with the target at 0.9956.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is moving upwards as well. Possibly, today the pair may grow with the short-term target at 110.61. Later, the market may form a new descending structure towards 110.10 and then resume growing to reach 110.67.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still trading around 0.7080. Today, the pair may form a new descending structure towards 0.7042 and then start a new growth to return to 0.7080.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 65.78. If later the instrument breaks this range to the upside, the price may continue trading upwards to reach 66.37 and then start a new decline with the short-term target at 62.90; if to the downside – resume trading inside the downtrend towards 64.70.
XAUUSD, “Gold vs US Dollar”
Gold is trading around 1308.15 without any particular direction. According to the main scenario, the pair may be corrected downwards with the short-term target at 1299.98.
BRENT
Brent is trading around 62.10. Possibly, the pair may continue the correction towards 60.45 and then form one more ascending structure with the target at 63.95. Later, the market may be corrected to reach 59.80.
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