Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”
EUR/USD has completed a wave of decline to 1.0575. Today a consolidation range could develop above this level. A link of growth to 1.0616 (a test from below) is not excluded, followed by a decline to 1.0556 with the trend potentially continuing to 1.0550. This is the first target.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD has completed a wave of decline to 1.2194. Today a consolidation range is expected to form above this level. With an upward breakout, a link of correction to 1.2248 (a test from below) could develop, followed by a decline to 1.2150, from where the trend could continue to 1.2000.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has completed a growth wave, reaching 148.95. Today a structure of growth is expected to expand to 149.05. After the price hits this level, a consolidation range could form below it. With a downward breakout, a link of correction to 148.14 could follow. With an upward breakout, the trend could develop to 149.94. This is a local target.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF has completed a growth wave, reaching 0.9133. Today a consolidation range is expected to develop below this level. With a downward breakout, a link of correction to 0.9088 could follow. An upward breakout will open the potential for the trend to continue to 0.9184.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD continues its downward movement to 0.6393. After the price hits this level, a link of correction to 0.6428 could form, followed by a decline to 0.6322 with the trend potentially developing to 0.6276.
Brent
Brent is in a consolidation phase around 91.91. A correction could continue to 89.40 today. Once it is over, an upward movement to 97.07 is expected. This is a local target.
XAU/USD, “Gold vs US Dollar”
Gold continues to develop a wave of decline to 1911.11. After hitting this level, the price could rise to 1919.60 (a test from below). A decline to 1909.00 could follow next, from where the trend could develop to 1894.77.
S&P 500
The stock index has completed a downward movement to 4298.8. A consolidation range could form above this level today. With an upward breakout, a link of correction to 4347.0 (a test from below) could form, followed by a decline to 4230.3. This is a local target. After reaching this level, the price could correct to 4298.0 and then fall to 4172.0. This is the first target.
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.
























