Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|EURUSD, “Euro vs US Dollar”
After finishing another descending structure at 1.1300, EURUSD has formed the downside continuation pattern and broken 1.1290 downwards to start the second part of the above0mentioned structure. Possibly, today the pair may test 1.1300 from below and then resume trading inside the downtrend with the target at 1.1230.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is forming another descending structure. Today, the pair may grow towards 1.2875. After that, the instrument may start a new decline to reach 1.2795 and then resume trading upwards with the target at 1.2900.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading downwards with the target at 1.0072. Later, the market may resume growing to reach 1.0103 and then start a new correction towards 1.0037.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is moving upwards. Possibly, today the pair may grow to reach 111.30. After that, the instrument may form a new descending structure with the first target at 110.70.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.7093. Today, the pair may grow to reach 0.7136 and then form a new descending structure towards 0.7030.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 65.75 without any particular direction. Possibly, today the pair may fall to break 65.42 and then continue trading inside the downtrend with the target at 62.90.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating above 1308.48. If later the instrument breaks this range to the upside, the price may resume trading upwards to reach 1325.45; if to the downside – continue the correction towards 1290.40.
BRENT
Brent is trading upwards; it has reached its upside target at 63.95. Possibly, the pair may form a new consolidation range near the highs. If later the instrument forms a reversal pattern, the market may be corrected with the first target at 62.30.
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