EUR/USD, “Euro vs US Dollar”
EUR/USD is still consolidating above 1.1850. If later the price breaks this range to the upside at 1.1880, the market may resume growing towards 1.1900 or even reach the target at 1.1950; if to the downside at 1.1850 – start a new correction towards 1.1815 and then form one more ascending structure with the above-mentioned target.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is still moving upwards; right now, it is trying to break 1.3330 to the upside. Possibly, the pair may succeed and then continue growing towards 1.3345 or even reach 1.3360. After that, the instrument may start a new correction with the target at 1.3240.
USD/RUB, “US Dollar vs Russian Ruble”
USD/RUB is falling towards 75.00 and may later correct to reach 75.60. After that, the instrument may fall towards 74.50 and then start a new correction with the target at 77.70.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is still consolidating above 103.70. Today, the pair may fall towards 103.30 and then form one more ascending structure to return to 103.70. Later, the market may resume trading downwards with the target at 102.50.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is consolidating above 0.9099. Possibly, the pair may break this level to the downside and resume falling towards 0.9077. After that, the instrument may form one more ascending structure to return to 0.9099 and then resume falling with the target at 0.9060.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is consolidating around 0.7292. Possibly, the pair may expand the range up to 0.7330 and then start a new descending structure to return to 0.7292. If later the price breaks this level to the downside, the market may start another correction with the target at 0.7244.
BRENT
After forming another consolidation range around 44.30 and breaking it to the upside, Brent is expected to continue growing towards 45.55. Later, the market may correct to return to 44.30 and then form one more ascending structure with the target at 48.50.
XAU/USD, “Gold vs US Dollar”
After completing the ascending structure at 1874.30, Gold is consolidating below this level. Possibly, the metal may fall to break 1863.50 and then continue moving downwards with the target at 1849.74.
BTC/USD, “Bitcoin vs US Dollar”
BTC/USD has finished the ascending wave at 18880.00. Today, the asset may correct with the first target at 17600.00 and then start another growth towards 18250.00, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may continue the correction with the short-term target at 16600.00.
S&P 500
The S&P index is still falling to reach 3531.1 and may later grow towards 3586.8, thus forming a new consolidation range. If the price breaks this range to the downside, the market may continue the correction with the target at 3450.0; if to the upside – start another growth to reach 3650.0.
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Latest Forex Analysis
Editors’ Picks
EUR/USD remains poised for more gains above 1.2160
The buying interest surrounding the single currency keeps the EUR/USD pair buoyed in the Asian session. Weaker US dollar lifts demand for the pair. US JOLTs Job Opening data, Germany ZEW Survey awaited.
GBP/USD: Struggles near 10-week top above 1.4100, focus on BOE’s Bailey
GBP/USD prints three-day winning streak, picks up bids of late. Swiss election, UK’s covid alert update earlier favored bulls. Bailey may reject rate hike fears, Queen Elizabeth II will also speak on government’s legislative agenda.
Gold: Bulls remain defensive near $1,840
Gold is consolidating gains sub $1,840 level in the Asian session. The price of gold possessed a rangebound movement between $1,830 and $1,838. On the hourly chart, the downward sloping line from the previous day’s high of $1,845.46, acts as a wall of defense for gold.
Cardano gains to diminish as 16% correction awaits
Cardano price is on the precipice of starting a downtrend after a recent minor sell-off. ADA looks to slide toward a key demand barrier that separates bullish from bearish. The sellers could trigger a 10% downtrend in ADA toward the resistance level at $1.47.
Nasdaq (NDX QQQ) Technical view, key chart levels, Nasdaq tests trendline support
The Nasdaq is trading nicely from resistance to support. Friday's rally stalled at the convergence of the 9 and 21-day resistance. Monday sees the resistance work well and so the Nasdaq sells off and currently finds support at the lower trendline seen in the chart below. A close below will target 12.883 the lower trendline.