Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

After finishing the descending wave at 1.1900 and then forming a new consolidation range around this level, EURUSD has broken it to the downside to reach 1.1835; this entire structure may be considered as the third wave. Today, the pair may consolidate above this level for a while and then break it to the upside to test 1.1888 from below. After that, the instrument may form the fifth structure of this descending wave with the first target at 1.1810.

GBP/USD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.3166 and then forming a new consolidation range around this level, GBPUSD has broken it to the downside to reach 1.3100; right now, it is consolidating around the latter level. Possibly, the pair may break the range to the upside and correct to test 1.3166 from below. Later, the market may form the fifth structure with the target at 1.3070.

USD/RUB, “US Dollar vs Russian Ruble”

In the case of USDRUB, the situation hasn’t changed much; it is still consolidating around 73.33 without any particular direction. According to the main scenario, the price is expected to fall and break 72.82. After that, the instrument may continue trading downwards with the short-term target at 71.91.

USD/JPY, “US Dollar vs Japanese Yen”

After completing the ascending structure at 106.00, USDJPY is expected to fall towards 105.60. Later, the market may start another growth with the target at 106.25. This entire wave may be considered as a correction to the upside.

USD/CHF, “US Dollar vs Swiss Franc”

After finishing the ascending wave at 0.9100 and then forming a new consolidation range around this level, USDCHF has broken it to the upside to reach 0.9140; right now, it is consolidating around the latter level. Possibly, today the pair may return to 0.9100 and test it from above. After that, the instrument may resume moving upwards with the target at 0.9165.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD is still falling towards 0.7147. Later, the market may form one more ascending impulse to reach 0.7215 and then resume trading downwards with the short-term target at 0.7070.

BRENT

Brent is still consolidating above 45.20 without any particular direction. Today, the pair may fall towards 45.10 and then start a new growth to reach 46.00. After that, the instrument may correct towards 45.60 and then resume trading upwards with the target at 47.00.

XAU/USD, “Gold vs US Dollar”

Gold has completed the descending wave at 1930.00. Possibly, today the pair may correct towards 1973.40 and then start a new decline to break 1930.00. After that, the instrument may continue trading downwards with the target at 1850.00.

BTC/USD, “Bitcoin vs US Dollar”

After finishing the descending correction at 11545.00, BTCUSD is expected to grow towards 12000.00 and may later fall to reach 11800.00, thus forming a new consolidation range. If later the price breaks this range to the upside at 12000.00, the market may start a new growth to reach 12600.00; if to the downside at 11500.00 – continue the correction with the target at 11000.00.

S&P 500

After rebounding from 3400.2 to the downside and then reaching 3370.8, the S&P index has formed a consolidation range around the latter level just to break it to the downside. Possibly, the asset may continue falling towards 3343.6 and then resume moving upwards to test 3370.8 from below. Later, the market may start a new decline with the target at 3288.8.