EUR/USD, “Euro vs US Dollar”

After completing the ascending wave at 1.2077 along with the descending impulse towards 1.2010, EURUSD is consolidating below the latter level. Today, the pair may start another correction to reach 1.2048 and then resume trading downwards with the short-term target at 1.1982.

EURUSD

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

After finishing the ascending wave at 1.4010 along with the descending impulse towards 1.3926, GBPUSD is expected to correct and reach 1.3965. After that, the instrument may resume trading downwards with the short-term target at 1.3834.

GBPUSD

USD/RUB, “US Dollar vs Russian Ruble”

After completing the ascending wave at 76.74, USDRUB is forming a new consolidation range around this level. Possibly, the pair may break this range to the downside and form a new descending structure with the first target at 75.94.

USDRUB

USD/JPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 108.20. Possibly, the pair may break the range to the upside and form one more ascending structure with the target at 108.80. Later, the market may resume falling to reach 108.30 and then start another growth towards 109.77.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is forming a new ascending impulse to reach 0.9176. Later, the market may correct towards 0.9152 and then resume growing with the target at 0.9285.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD has completed the correction at 0.7815. Possibly, today the pair may fall to break 0.7675 and then continue trading downwards with the target at 0.7537.

AUDUSD

Brent

Brent has finished the ascending wave at 67.40; right now, it is correcting towards 64.80. After that, the instrument may start a new growth to return to 67.40 or even continue trading upwards with the target at 70.00.

Brent

XAU/USD, “Gold vs US Dollar”

Gold is growing towards 1800.00 and may later correct to test 1762.16 from above. After that, the instrument may resume trading upwards with the target at 1840.00.

Gold

S&P 500

After reaching the short-term target at 4191.3, the S&P index is correcting towards 4105.3. Later, the market may form one more ascending structure with the target at 4277.7.

SP 500

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EUR/USD Price Analysis: Bears hit target, eyes on upside

As per the prior analysis, 'EUR/USD Price Analysis: Bears are lurking with eyes on 61.8% Fibo target', the market has melted to the target and now the focus is on the upside should the support structure hold. 

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US inflation soared in April and so did market volatility. Treasury rates rose, the dollar followed and equities dropped for a second day.  The Fed insists prices increases are temporary but behind the pandemic base effect commodity prices are sharply higher and wages are rising. 

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