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Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair has completed a correction wave to 1.0804. By now, the market has broken the 1.0777 level downwards, continuing the third decline wave to 1.0722. With a breakout of this level, the trend could extend to 1.0650. This is a local target.

EURUSD

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

The GBP/USD pair has escaped a consolidation range downwards. Practically, a decline wave extends to the 1.2515 level. Once it is reached, a growth link to 1.2590 might follow (testing from below). Next, a decrease towards 1.2380 is expected. This is a local target.

GBPUSD

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues developing a consolidation range around 151.45 without any obvious trend. A growth link towards 151.89 is not excluded today. Next, a decline link to 151.50 might follow, after which a rise towards 152.08 could develop. This is a local target.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair continues developing a consolidation range around 0.9033. Today the market has extended the range upwards to 0.9064. A decline link to 0.9033 is expected (testing from above), followed by a rise to 0.9102. This is a local target.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has escaped a consolidation range downwards and continues developing a decline wave towards 0.6468. Once this level is reached, a growth link to 0.6502 is expected (testing from below), followed by a decline to 0.6390. This is a local target.

AUDUSD

Brent

Brent has broken the 87.20 level and continues developing the wave to 88.11. Once this level is reached, a correction link to 87.20 is not excluded (testing from above). Next, a rise to 89.11 could follow, from which level the trend might continue to 90.40. This is a local target.

Brent

XAU/USD, “Gold vs US Dollar”

Gold has completed a decline wave to 2228.50, correcting to 2259.66 today. Practically, the market has set the frames for a consolidation range. With a downward escape, the potential for a decline wave to 2214.22 might open. With an upward escape from the range, a growth link to 2280.28 is not excluded. This is a local target.

XAUUSD

S&P 500

The stock index continues developing a consolidation range around 5256.0. A decline link to 5232.0 could develop today. Once this level is reached, a growth link to 5303.0 is not excluded. With a downward escape from the range, the potential for a decline wave towards 5169.0 could open. This is the first target.

S&P 500

Author

RoboForex Team

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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