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 1.0870. Today the market has started a new structure of a decline wave. The first target is 1.0795. Once this level is reached, a correction link to 1.0833 might follow (testing from below). Next, a decline towards 1.0755 could form, from which level the trend might continue to 1.0715.

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

The GBP/USD pair has completed a correction wave to 1.2681. Today the market has started developing a decline wave. The first target is 1.2604. Once this level is reached, a correction link towards 1.2642 is not excluded, followed by a decline to 1.2565, from which level the trend could extend to 1.2525.

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has escaped a consolidation range downwards. Practically, the market suggests a correction to 150.60. Once this level is reached, a growth link to 151.29 is not excluded. Next, a correction to 150.00 could follow. This is a local target.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has corrected to 0.9000. A new growth wave towards 0.9070 is expected to start. This is the first target. Once this level is reached, a decline link to 0.9037 is not excluded. Next, a growth wave to 0.9101 could begin. This is a local target.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has completed a correction wave to 0.6617. A decline wave towards 0.6519 is expected today. This is the first target. Once this level is reached, a growth link to 0.6565 is not excluded, followed by a decline to 0.6470, from which level the trend might extend to 0.6420.

Brent

Brent has completed a growth wave to 90.93. Today the market is forming a narrow consolidation range under this level. The range might later expand to 91.11. Next, a correction link to 89.66 might form, followed by a rise to 91.50, from which level the trend might continue to 92.81. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has performed a growth wave to 2305.55. Today the market is forming a correction link. Once this correction is over, the wave could extend towards 2320.66, from which level the trend might continue to 2349.00. This is a local target.

S&P 500

The stock index corrected to 5262.0 and formed a decline wave to 5158.5. A consolidation range is currently forming around this level. A decline to 5136.0 is not excluded. Once this level is reached, a correction to 5199.0 might follow. Next, a decline wave towards 5114.4 is expected. This is the first target.