EUR/USD, “Euro vs US Dollar”
The EURUSD pair has completed a growth structure, reaching 1.0664. Today, the market has formed a consolidation range around this level. A downward breakout will open the potential for a movement to the local target of 1.0585. With an upward breakout, the correction might continue to 1.0733 (testing from below). Next, the price could decline to 1.0585, from where the trend might develop to 1.0480.
GBP/USD, “Great Britain Pound vs US Dollar”
The GBPUSD pair is currently in a consolidation phase around 1.2444. The price might rise to 1.2487 today, practically forming a correction of the previous decline wave. Once the correction is over, a new decline wave could start, aiming for the local target of 1.2381.
USD/JPY, “US Dollar vs Japanese Yen”
The USDJPY pair has formed a consolidation range around 154.30. Another link of decline towards 153.83 is not ruled out. The decline is interpreted as a correction of the previous upward momentum. Once the correction is over, a new growth wave targeting 154.80 could start. A breakout of this level will open the potential for the trend continuation to 155.75.
USD/CHF, “US Dollar vs Swiss Franc”
The USDCHF pair is currently in a consolidation phase above 0.9094. A decline to 0.9084 is not ruled out today, which is interpreted as a correction of the previous growth wave. After the correction, a new growth wave targeting 0.9168 could start, with the trend potentially continuing to 0.9180.
AUD/USD, “Australian Dollar vs US Dollar”
The AUDUSD pair has completed a correction wave, reaching 0.6455. The market is forming a consolidation range below this level today. With a downward breakout, the movement might continue to 0.6380, from where the trend could expand to the local target of 0.6330.
Brent
Brent has formed a consolidation range around 88.53 and, breaking below it, continues to develop a correction. Today, the market has completed a decline to 86.66. A growth structure targeting 88.50 (testing from below) could occur, followed by a decline to 85.55. Subsequently, a new growth wave towards 91.55 might start, with the trend potentially continuing to 95.00.
XAU/USD, “Gold vs US Dollar”
Gold is currently in a consolidation phase around 2378.00. With a downward breakout, a corrective decline to 2306.66 is expected, followed by a rise to 2355.00 and a subsequent fall to 2266.00. With an upward breakout, the price might rise to 2400.00. After reaching this level, the price could decline to 2300.00.
S&P 500
The stock index has completed a decline wave, reaching 5010.0. The market is forming a consolidation range above this level today. With an upward breakout, a correction phase targeting 5062.0 is not ruled out, followed by a decline to 5000.5, from where the trend might continue to 4950.5.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
AUD/USD: Gains appear capped near 0.6580
AUD/USD made a sharp U-turn on Tuesday, reversing six consecutive sessions of gains and tumbling to multi-day lows near 0.6480 on the back of the robust bounce in the Greenback.
EUR/USD tumbles out of recent range, tests below 1.0770 as markets flee into safe havens
EUR/USD slid below the 1.0670 level on Tuesday after an unexpected uptick in US wages growth reignited fears of sticky inflation, chopping down rate cut expectations and sending investors into safe haven bids.
Gold pullbacks on rising US yields, buoyant US Dollar as inflation heats up
Gold prices drop below the $2,300 threshold on Tuesday as data from the United States show that employment costs are rising, thus putting upward pressure on inflation. XAU/USD trades at $2,296 amid rising US Treasury bond yields and a stronger US Dollar.
Ethereum slumps again as long liquidations exceed those of Bitcoin
Ethereum experienced a further decline on Tuesday following a disappointing first-day trading volume for Hong Kong's spot Bitcoin and ETH ETFs. This comes off the back of increased long liquidations and mixed whale activity surrounding the top altcoin.
Federal Reserve meeting preview: The stock market expects the worst
US stocks are a sea of red on Tuesday as a mixture of fundamental data and jitters ahead of the Fed meeting knock risk sentiment. The economic backdrop to this meeting is not ideal for stock market bulls.