Forex technical analysis and forecast: Majors, equities and commodities
EUR/USD, “Euro vs US Dollar”
EURUSD continues falling towards 1.0749 and may later start a new correction to reach 1.0835. After that, the instrument may resume trading downwards with the target at 1.0730 or even extend this structure down to 1.0700.
GBP/USD, “Great Britain Pound vs US Dollar”
Having formed a new consolidation range around 1.3016, GBPUSD is breaking it to the downside and may later continue falling towards 1.2948. After that, the instrument may start another correction to test 1.3016 from below and then form a new descending structure with the target at 1.2890.
USD/JPY, “US Dollar vs Japanese Yen”
After forming a new consolidation range around 126.50 and breaking it to the upside, USDJPY is expected to continue growing towards 128.18. Later, the market may start another correction with the target at 126.66.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF has broken 0.9455 and may later continue growing towards 0.9480. After that, the instrument may correct to reach 0.9385 and then form one more ascending structure with the target at 0.9500.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has completed the descending wave at 0.7342. Possibly, today the pair may correct to reach 0.7377 and then resume moving downwards with the target at 0.7338.
Brent
Brent is consolidating around 112.50. Possibly, the asset may break the range to the upside and reach 117.50. Later, the market may fall to return to 112.50 and then resume moving within the uptrend with the target at 118.25.
XAU/USD, “Gold vs US Dollar”
Gold has completed the correctional wave at 1978.00; right now, it is consolidating there. Possibly, the metal may break the range to the downside and continue the correction down to 1958.60. Later, the market may resume growing with the target at 2013.00.
S&P 500
Having finished the correction at 4410.0, the S&P index is expected to resume falling towards 4314.8. After that, the instrument may start another correction to reach 4455.5 and then resume trading downwards with the target at 4270.0.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
