EUR/USD, “Euro vs US Dollar”
After completing the descending structure at 1.1186, EURUSD is expected to correct towards 1.1225. Later, the market may start another decline with the target at 1.1182.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.3315, GBPUSD is correcting towards 1.3346. Later, the market may resume trading downwards with the target at 1.3305.
USD/RUB, “US Dollar vs Russian Ruble”
USDRUB has completed the descending impulse at 74.13 along with the correction towards. Possibly, today the pair may form a new descending structure to break 73.96 and then continue falling with the target at 72.72.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY has finished the ascending wave at 115.50; right now, it is consolidating below this level. Possibly, the pair may break this range to the upside and start a new growth with the target at 116.06.
USD/CHF, “US Dollar vs Swiss Franc”
After reaching the short-term upside target at 0.9366, USDCHF is correcting towards 0.9317. Later, the market may start another growth with the target at 0.9383.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending wave at 0.7183. Possibly, today the pair may correct towards 0.7222 and then start another decline with the target at 0.7171.
Brent
Brent has finished the ascending structure at 82.44; right now, it is consolidating below this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 77.40; if to the upside – form one more ascending structure with the target at 83.20.
XAU/USD, “Gold vs US Dollar”
Gold has expanded the consolidation range down to 1778.40; right now, it is growing to reach 1806.60 and may later start a new decline towards 1792.10. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1777.50; if to the upside – form one more ascending structure with the target at 1823.50.
S&P 500
After expanding the range up to 4698.0 and then completing the descending structure at 4680.9, the S&P index is trading upwards to break 4700.0 and may later continue growing towards 4738.8. After that, the instrument may resume trading downwards to return to 4700.0.
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Editors’ Picks
EUR/USD comes under pressure near 1.0630
Further gains in the Greenback encourage sellers to maintain their control over the risk complex, forcing EUR/USD to retreat further and revisit the 1.0630 region as the US session draws to a close.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.