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Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair is forming a consolidation range around 1.0760, with the range possibly expanding to 1.0795. With a downward breakout, a new decline wave could start, targeting 1.0684 and potentially continuing to the local target of 1.0580.

EURUSD

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

The GBP/USD pair is forming a consolidation range around 1.2505, with the range possibly expanding to 1.2565. With a downward breakout, a new decline wave could start, targeting 1.2444 and potentially continuing to the local target of 1.2350.

GBPUSD

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is currently in a consolidation phase around 155.60 without any strong trend. The range might expand to 156.11. With a downward breakout, a new decline wave could start, aiming for 154.00 and potentially continuing to 151.40, representing the first target of the next decline wave.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is forming a consolidation range around 0.9070, with the range possibly expanding to 0.9040. After the price reaches this level, a new growth wave could start, targeting 0.9130 and potentially continuing to the local target of 0.9220.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is currently in a consolidation phase around 0.6589. The range might expand to 0.6624. With a downward breakout, a new decline wave could start, aiming for 0.6525 and potentially continuing to the local target of 0.6400.

AUDUSD

Brent

Brent has completed a growth impulse, reaching 84.24. Today, a correction aiming for 82.00 is possible. Once the correction is complete, a new growth wave could develop, targeting 85.55 and potentially continuing to 86.06. This is a local target of the growth wave.

Brent

XAU/USD, “Gold vs US Dollar”

Gold has exited the consolidation range upwards and formed a growth link towards 2378.55. Today, a decline wave could start, aiming for 2344.82. Once the price hits this level, a corrective phase targeting 2364.64 is not ruled out. Next, a new decline wave could develop, aiming for 2275.95 as a local target. Subsequently, the price could rise to 2311.11 (testing from below) and then decline to 2241.11. This is the first target of the next decline wave.

XAUUSD

S&P 500

The stock index is currently in a consolidation phase around 5205.0. The range might expand to 5246.5. With a downward breakout, a new decline wave could start, aiming for 5125.0 and potentially continuing to 5081.0, representing the first target of the next decline wave.

S&P

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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