EUR/USD, “Euro vs US Dollar”
The currency pair has completed a corrective wave to 1.0800. Today the market continues developing a wave of decline to 1.0730. After the price reaches this level, a consolidation range could form around it. It might later extend downwards to 1.0700. Next, a corrective rise to 1.0828 could form.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of decline to 1.2355. Today the market has formed a consolidation range around this level, and an escape from it downwards suggests continuing the wave to 1.2315. After the price reaches this level, a link of correction to 1.2355 could form.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair formed a consolidation range around 138.65 and completed a structure of growth to 139.65, breaking the range upwards. Today the wave might continue to 139.85. Next, a correction could start to 138.65.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair has completed a wave of growth to 0.9062. Today the market is forming a consolidation range around this level. A link of growth to 0.9085 is not excluded. Next, a corrective decline to 0.9022 could follow. And after the correction will be over, the trend could continue to 0.9111.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair has completed a wave of decline to 0.6534. Today the market is consolidating around this level. With an escape from the range downwards, the wave could continue to 0.6480. With an escape upwards, a corrective link to 0.6571 could develop. Next, a decline to 0.6480 is expected.
Brent has completed a wave of growth to 78.46 and a correction to 77.00. The market is forming a structure of growth to 79.40 today. This is a local target. After the price reaches this level, a correction to 77.40 could start. Next, a new wave of growth to 80.20 might begin.
XAU/USD, “Gold vs US Dollar”
Gold has completed a wave of growth to 1984.00. Today the market continues developing a new wave of decline to 1945.75. After the price reaches this level, a correction to 1964.00 could begin.
The stock index has completed a wave of decline to 4106.0. Today the market is forming a consolidation range above this level. With an escape from the range upwards, a link of correction to 4160.0 could develop. With an escape downwards, the wave of decline might develop to 4050.0.
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EUR/USD battles 1.0700 after mixed Eurozone data
EUR/USD has come under renewed selling pressure, battling 1.0700 after mixed Eurozone Retail Sales data for April. The pair remains undermined by the cautious market mood, disappointing German Factory Orders and a broad US Dollar rebound.
GBP/USD turns south toward 1.2400 as US Dollar recovers
GBP/USD is heading south toward 1.2400, meeting fresh supply in the European session. The US Dollar is seeing renewed safe-haven buying amid a risk-off market profile, acting as a headwind to the pair.
Gold oscillates around $1,960 amid mixed responses to Fed’s June policy
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Markets are likely to focus on ECB commentary
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