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Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair is currently in a consolidation phase around 1.0858, with the market extending the range towards 1.0880 today. A decline to 1.0858 (testing from above) is expected. With an upward breakout, the wave might expand to 1.0906, potentially rising to 1.0914. With a downward breakout, a decline towards 1.0828 could follow, with the wave potentially continuing to 1.0727.

EURUSD

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

The GBP/USD pair has completed a growth wave, reaching 1.2705. A consolidation range is currently forming around this level, possibly expanding to 1.2727. Next, the price could decline to 1.2705 (testing from above) and then rise to 1.2764. After the price reaches this level, a decline wave could start, aiming for 1.2605 as the first target.

GBPUSD

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is currently in a consolidation phase around 155.90. The consolidation range might extend to 156.14. Subsequently, the price could decline to 154.76. Practically, a wide consolidation range is expected to form. A downward breakout will open the potential for a decline wave towards the first target of 152.20.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has completed a correction, reaching 0.9072 (testing from above). Today, a growth link towards 0.9109 is forming. After reaching this level, the price could decline to 0.9091 and then rise to 0.9133, from where the trend might continue to the first target of 0.9151.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

The AUDUSD pair has completed a growth impulse, reaching 0.6691. Today, a consolidation range has formed around this level. With an upward breakout, the price could rise towards 0.6734. With a downward breakout, the first decline wave could develop, targeting 0.6646. A breakout of this level will open the potential for a movement by trend towards 0.6555.

AUDUSD

Brent

Brent continues to develop a wave, aiming for 84.20. After reaching this level, the price could correct to 83.13 (testing from above). Next, a new growth wave could start, aiming for 85.33 as the first target.

Brent

XAU/USD, “Gold vs US Dollar”

Gold has completed a growth impulse, reaching 2440.70. Today, a consolidation range is expected to form around this level. With an upward breakout, the trend might continue towards 2478.78. With a downward breakout, the wave could develop towards 2331.60 as the first target.

XAUUSD

S&P 500

The stock index has formed a consolidation range around 5299.0. Today, the market exited it upwards, considering the likelihood of a growth wave towards 5333.0. After reaching this level, a new decline wave could start, aiming for 5252.0 as the first target. If this level breaks, the trend might continue towards 5171.0.

SP

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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