EUR/USD, “Euro vs US Dollar”
The currency pair formed a consolidation area around 1.1808 and broke it away upwards. Practically, the market suggested the extension on the wave of growth. Today the market has reached the local goal of this extension at 1.1877. We expect a new consolidation are to form under 1.1877, which might extend to 1.1880. Then the price might escape this range downwards, correcting to 1.1803 (a test from above) and then grow to 1.1909.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair formed a consolidation area under 1 3911 and with an escaped downwards corrected to 1.3804. Today another link of growth to 1.3936 might develop. Then we expect a decline to 1.3804.
USD/RUB, “US Dollar vs Russian Ruble”
The currency formed a consolidation area around 76.46 and with an escape upwards practically suggests the development of another wave of growth to 77.77. After this level is reached, we expect a decline to 75.15.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair completed the structure of a declining wave towards 109.84. Today the market is forming a consolidation range under this level. A decline to 109.50 is possible, followed by growth to 110.16 and another decline to 109.35.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair completed a structure of growth to 0.9395. Then the market completed the fifth structure of a declining wave to 0.9307. Today we expect a consolidation range to develop around this level. The main scenario is an escape upwards to 0.9395.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair keeps developing a consolidation range under 0.7657. Today we expect it to escape the range downwards to 0.7454 and then — grow to 0.7727.
Brent
Oil keeps developing a consolidation range around 63.00. Today it might fall to 60.00. After this level is reached, we expect a new wave of growth to 65.50 to start.
XAU/USD, “Gold vs US Dollar”
Gold keeps developing a wave of growth to 1755.73. After this level is reached, we expect a link of correction to 1720.20. After the correction is over, we expect growth to 1900.00.
S&P 500
The stock index has completed a wave of growth to 4077.0. Today the market is trading in a consolidation range around this level. We expect a correctional decline to 3960.3. The goal is first.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD edges lower toward 1.0700 post-US PCE
EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.