EUR/USD, “Euro vs US Dollar”
After breaking the consolidation range to the downside at 1.1244 and completing the descending wave at 1.1130, EURUSD is expected to form a new consolidation range there. A breakout of this range to the upside may result in a new rising wave towards 1.1310. Today, the pair may form the first ascending structure to reach 1.1188 and then correct with the target at 1.1160.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the first descending wave at 1.3360, GBPUSD is growing towards 1.3550. Possibly, today the pair may form the first ascending structure to reach 1.3450 and then resume trading downwards with the first target at 1.3410.
USD/RUB, “US Dollar vs Russian Ruble”
Having broken 78.14 and completed a downside continuation pattern, USDRUB is expected to fall and reach the short-term target at 77.14. After that, the instrument may correct to test 78.14 from below and then resume trading downwards with the target at 76.58.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY continues trading upwards. Possibly, today the pair may reach 115.55 and then start another decline with the target at 114.50.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF has reached the upside target at 0.9333. Today, the pair may form a new descending structure with the target at 0.9215.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has broken 0.7090 to the downside; right now, it is extending the descending wave to 0.7002. Possibly, the pair may reach this level and start a new growth with the target at 0.7090.
Brent
Brent is still consolidating above 88.80. Today, the asset may start another growth to break 99.90 and then continue trading within the uptrend with the target at 92.55.
XAU/USD, “Gold vs US Dollar”
After forming the consolidation range around 1825.70 and breaking it to the downside, Gold continues the correction down to 1792.00. Today, the metal may form a new consolidation range above the latter level. If later the market breaks the range to the upside, the price may form one more ascending structure with the target at 1815.70.
S&P 500
The S&P index is consolidating around 4360.0. Possibly, the asset may grow towards 4437.9. After that, the instrument may start a new decline to break 4288.3 and then continue trading downwards with the first target at 4148.0.
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.