Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
|EURUSD, “Euro vs US Dollar”
After breaking 1.1222 upwards and forming a continuation pattern above it, EURUSD has extended the correction to reach 1.1270. Today, the pair may consolidate close to the highs. Possibly, the pair may extend the structure towards 1.1277. If the price breaks 1.1260 to the downside, the instrument may fall to test 1.1222 from above and then start another growth to reach 1.1288. Later, the market may resume trading downwards with the target at 1.1180.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the ascending wave at 1.2625; it has formed a continuation pattern and may extend the wave towards 1.2714. Possibly, today the pair may reach this level and then form a new descending structure with the target at 1.2610.
USDCHF, “US Dollar vs Swiss Franc”
After reaching 0.9960, USDCHF has completed a continuation pattern and may extend the wave towards 0.9898. Today, the pair may consolidate near the lows. If later the price breaks the range to the upside, the instrument may form one more ascending structure with the first target at 0.9960.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the descending wave at 107.92; it has formed a continuation pattern and may continue trading inside the downtrend. Possibly, today the pair may reach 107.07 and then start another correction with the target at 108.80.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6881. If later the price breaks the range to the upside, the instrument may start a new growth towards 0.6930 and then resume trading inside the downtrend with the target at 0.6830.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still trading downwards. Today, the pair may reach 63.45 and then form one more ascending structure to reach 63.90. Later, the market may resume trading inside the downtrend with the target at 62.77.
XAUUSD, “Gold vs US Dollar”
After forming an upside continuation pattern at 1350.00, Gold has skyrocketed towards 1390.00; right now, it is trading downwards with the target at 1367.17. After that, the instrument may be corrected towards 1380.55 and then form a new descending structure to reach the first target at 1333.00.
BRENT
After breaking 62.52, Brent is still trading upwards with the first target at 63.60. After that, the instrument may start a new correction to reach 62.00 and then continue growing towards 66.40.
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