Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

EURUSD has finished another descending structure at 1.1250 along with the correction towards 1.1325; right now, it is consolidating around 1.1277. Possibly, today the pair may fall to reach 1.1231 and then start another correction towards 1.1303. Later, the market may resume trading within the downtrend with the target at 1.1174.

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

GBPUSD is falling towards 1.3402. After that, the instrument may correct to reach 1.3457 and then resume falling with the target at 1.3300.

USD/RUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.15. Possibly, the pair may expand the range down to 72.67 and then grow towards 73.00. Later, the market may resume trading downwards with the target at 71.70.

USD/JPY, “US Dollar vs Japanese Yen”

After finishing the descending structure at 113.60, USDJPY is growing towards 114.55 and may later start a new decline to reach 114.07, thus forming a new consolidation range. If the price breaks this range to the upside, the market may resume trading upwards with the target at 115.53; if to the downside – continue the correction towards 112.80 and then form one more ascending structure to reach 115.50.

USD/CHF, “US Dollar vs Swiss Franc”

After completing the ascending structure at 0.9289, USDCHF has formed a new consolidation range around this level. Possibly, the pair may continue growing towards 0.9326 and then correct downwards to reach 0.9290. Later, the market may resume trading upwards with the target at 0.9340.

AUD/USD, “Australian Dollar vs US Dollar”

After completing the descending structure at 0.7230, AUDUSD is consolidating above this level. Today, the pair may fall towards 0.7225 and then grow to reach 0.7261, thus forming a downside continuation pattern. If later the price breaks this range to the downside, the market may resume falling with the target at 0.7152; if to the upside – correct towards 0.7307 and then form a new descending structure to reach the above-mentioned target.

Brent

Brent has finished another descending structure at 78.20. Today, the asset may grow to test 82.00 from below and then complete the correction by trading downwards with the target at 77.40. Later, the market may start a new growth to reach 85.50.

XAU/USD, “Gold vs US Dollar”

After completing the descending wave at 1848.15 and forming a new consolidation range around this level, Gold is expected to break it to the downside and reach 1827.60. Later the market may form one more ascending structure to return to 1848.00 and then resume falling with the target at 1815.00. After that, the instrument may start another growth towards 1900.00.

S&P 500

The S&P index is consolidating around 4707.0. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 4750.0; if to the downside – start a new correction towards 4675.0.