Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD has reached the estimated target of the corrective wave at 1.0734. A consolidation range is expected to form under this level today. With a downward escape from the range, the potential for a wave to 1.0710 could open, from where the decline wave might extend to 1.0685. With an escape upwards, the correction could continue to 1.0777.

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD has formed a decline wave to 1.2535 and might correct to 1.2593 today. Once the correction is over, a decline to 1.2530 could start, from where the wave might extend to 1.2513. This is a local target.

USD/JPY, “US Dollar vs Japanese Yen”

USDJPY continues developing a correction to 149.78. As soon as this correction is over, a growth link to 151.00 could follow. Next, a decline wave to 149.30 is expected to start. This is the first target.

USD/CHF, “US Dollar vs Swiss Franc”

USDCHF continues developing a correction to 0.8800. Once this correction is over, a growth wave to 0.8898 could develop. This is the first target.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD has performed a correction wave to 0.6500. A decline impulse to 0.6477 and a growth link to 0.6488 have formed today. Practically, a consolidation range has concluded at these levels. With an escape from the range downwards, the potential for a decline wave to 0.6433 might open. This is the first target.

Brent

Brent has extended a consolidation range to 83.13. Today the quotes might correct to 79.80. Once the correction is over, a growth link to 83.66 is expected. This is the first target. Once this level is reached, a correction to 80.00 could begin.

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave to 1984.10. Currently, the instrument is forming a consolidation range above this level. With an escape from the range upwards, the potential for a correction to 2006.50 might open. With a downward escape, a decline link to 1970.30 is not excluded.

S&P 500

The stock index has completed a correction link to 4992.0. Currently, a consolidation range is forming around this level. Today the range might expand to 5012.0. With an escape upwards, a growth wave to 5047.0 is not excluded. With a downward escape, the potential for a decline wave to 4922.0 might open, from where the trend could continue to 4825.0. This is a local target.

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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.

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