Forex technical analysis and forecast: Majors, equities and commodities
EUR/USD, “Euro vs US Dollar”
The EUR/USD pair has completed a growth wave targeting 1.0850. Today the market is forming a consolidation range around this level. A further correction towards 1.0880 is not excluded. Once it is over, a decline wave to 1.0790 might start, and if this level also breaks, the potential for a decline by the trend towards 1.0700 could open.
GBP/USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has formed a growth wave towards 1.2651. Today the market is forming a consolidation range around this level. A further correction to 1.2694 is not excluded. Once it is over, a decline wave could begin, targeting 1.2573. And if this level also breaks, the potential for a decline by the trend to 1.2640 could open.
USD/JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair continues developing a consolidation range above 151.74. The range might expand to 152.05, after which a decline wave might form, targeting 151.44. If this level also breaks, the trend could contine to 150.80.
USD/CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is forming a consolidation range around 0.9050. A further decline to 0.9035 is not excluded. Next, a wave targeting 0.9077 could develop. This is a local target.
AUD/USD, “Australian Dollar vs US Dollar”
The AUD/USD pair continues developing a consolidation range around 0.6590. The correction might continue towards 0.6630. Once it is over, a new decline wave targeting 0.6555 might begin. And if this level also breaks, the potential for a decline by the trend towards 0.6478 could open. This is the first target.
Brent
Brent continues forming a consolidation range above 88.88. With an upward escape, the potential for a wave towards 93.00 might open, from where the trend could continue to 97.00. This is a local target.
XAU/USD, “Gold vs US Dollar”
Gold continues developing a consolidation range around 2333.33. With an upward escape from the range, the growth wave is expected to extend to 2380.00. With a downward escape, a correction link towards 2311.11 is not excluded. Next, a rise to 2380.00 might follow. This is a local target.
S&P 500
The stock index is forming a consolidation range around 5207.0. With an upward escape from the range, a growth link towards 5232.0 is not excluded, followed by a decline to 5188.0. If this level also breaks, the potential for a wave towards 5125.0 could open. 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.
