Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

After completing the correctional wave at 1.1765, EURUSD is consolidating around 1.1744; right now, it is moving downwards to reach 1.1730. If later the price breaks this range to the downside, the market may resume falling with the first target at 1.1698; if to the upside – continue the correction towards 1.1790 and then start a new decline to reach 1.1690.

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

After finishing the ascending structure at 1.2960, almost breaking the descending wave’s channel, and forming another consolidation range there, GBPUSD has broken it to the upside to reach 1.3060; right now, it is consolidating below the latter level. Today, the pair may break this new range to the downside to test 1.2960 from above and then form one more ascending structure with the target at 1.3010.

USD/RUB, “US Dollar vs Russian Ruble”

After breaking 77.24 and forming an upside continuation pattern, USDRUB is expected to grow and reach 77.80. this entire ascending structure should be considered as a correction. Later, the market may complete the correction and resume trading downwards to break 77.00. After that, the instrument may continue falling towards 76.40 or even extend this structure to reach the first target at 76.10.

USD/JPY, “US Dollar vs Japanese Yen”

After completing the descending structure at 105.00, USDJPY is growing towards 105.50. After that, the instrument may consolidate between these two levels. Later, the market may break the range to the downside and continue moving downwards with the short-term target at 104.40.

USD/CHF, “US Dollar vs Swiss Franc”

After finishing the correctional structure at 0.9127, USDCHF is consolidating around this level. Possibly, the pair may form one more ascending structure with the first target at 0.9170. After that, the instrument may start a new correction to return to 0.9127.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD is still falling towards 0.7105. Later, the market may correct to reach 0.7150 and then resume trading downwards with the first target at 0.7052.

BRENT

After forming another consolidation range around 42.60 and breaking to the upside, Brent has reached 43.60; right now, it is consolidating below this level. If later the price breaks this range to the upside, the market may resume growing with the first target at 44.22; if to the downside – start a new decline to return to 42.60.

XAU/USD, “Gold vs US Dollar”

After finishing the ascending wave at 1905.00, Gold is falling towards 1891.10 and may later grow to reach 1901.50, thus forming a new consolidation range around 1905.00. The main scenario implies that the price may move downwards with the first target at 1877.40.

BTC/USD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 11400.00. According to the main scenario, the price is expected to fall towards 11111.00. Later, the market may correct to test 11400.00 from below and then resume falling with the target at 10900.00.

SP 500

After breaking 3500.0 to the downside, the S&P index is still moving downwards with the short-term target at 3470.0. After that, the instrument may form one more ascending structure to test 3500.2 from below and then resume falling towards 3457.7, at least.