EUR/USD, “Euro vs US Dollar”
The EUR/USD pair has completed a downward impulse, reaching 1.0737. Today, the market is forming a narrow consolidation range above this level. With an upward breakout, a corrective phase is not ruled out, aiming for 1.0757. With a downward breakout, the trend might continue to 1.0700. A breakout of this level will open the potential for a decline wave towards the local target of 1.0580.
GBP/USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has broken below 1.2525 and continues to develop a wave to 1.2414. After the price reaches this level, a corrective phase could follow, targeting 1.2525 (testing from below). Next, a new decline wave could start, aiming for 1.2270 and potentially continuing to 1.2170. This is the target of the first decline wave by trend.
USD/JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed a corrective wave, reaching 155.25. A new consolidation range could form below this level. With a downward breakout, another decline wave could develop, targeting 153.58. If this level also breaks, the trend might continue to 151.40 representing the first target of the decline wave.
USD/CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair continues to develop a growth wave towards 0.9114. After the price reaches this level, a corrective phase could follow, targeting 0.9060 (testing from above). Next, a new growth wave might start, aiming for 0.9180 and potentially continuing to 0.9222. This is the first target of the growth wave.
AUD/USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed a decline wave, reaching 0.6568. Today, the market is forming a narrow consolidation range above this level. With an upward breakout, a corrective phase is not ruled out, aiming for 0.6595. A downward breakout will open the potential for a wave towards 0.6515, with the trend potentially continuing to the decline wave’s first target of 0.6400.
Brent
Brent continues to develop a narrow consolidation range around 83.33, with the price potentially exiting the range upwards, aiming for 85.65. After the price hits this level, a corrective phase is not ruled out, targeting 84.00. Subsequently, a new growth wave could start, aiming for the local target of 88.64.
XAU/USD, “Gold vs US Dollar”
Gold is currently in a consolidation phase around 2320.00. An upward breakout will open the potential for a wave towards 2354.00. With a downward breakout, the correction might continue to 2266.00.
S&P 500
The stock index is currently in a consolidation phase below 5202.0. A downward breakout will open the potential for a decline wave towards 5097.0. Once the price reaches this level, a corrective phase might follow, targeting 5149.0. Next, the price could decline to 5000.0 representing the first target of another decline wave.
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