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The EUR/USD is forming a wide consolidation range around the 1.0845 level

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair is forming a wide consolidation range around the 1.0845 level. The market has extended the range towards 1.0881 and returned to 1.0840. Today, another growth structure targeting 1.0902 might develop, followed by a decline towards the range’s lower boundary at 1.0788. A downward breakout will open the potential for a decline wave towards 1.0680, representing the downtrend’s first target.

EURUSD

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

The GBP/USD pair is currently in a consolidation phase around 1.2736. Today, a rise towards 1.2791 is not ruled out, followed by a potential decline towards 1.2676. A downward breakout will open the potential for a wave towards 1.2555, representing the downtrend’s first target.

GBPUSD

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming a consolidation range around 156.16, which is expected to expand towards 157.77 today. Subsequently, the price could decline towards 157.16 (testing from above). Subsequently, another growth structure could follow, aiming for 157.95. After reaching this level, the price could decline towards 156.38. A breakout below this level will open the potential for a wave towards 155.44, representing the downtrend’s first target.

USDJPY

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is currently in a consolidation phase around 0.9072. The market has extended the consolidation range towards 0.9003. Today, a rise towards 0.9072 (testing from below) is possible, followed by another potential decline structure targeting 0.8989. After this, a new growth wave could start, aiming for 0.9157 as the uptrend’s first target.

USDCHF

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming a consolidation range around 0.6648. A rise towards 0.6708 is not ruled out. Subsequently, a decline wave could start, aiming for 0.6590. A breakout of this level will open the potential for a wave towards 0.6500, representing the downtrend’s first target.

AUDUSD

Brent

Brent continues to develop a correction towards 80.12. Once the price reaches this level, a growth wave might start, aiming for 84.66. A breakout of this level will open the potential for a movement towards 89.22, representing the uptrend’s first target.

Brent

XAU/USD, “Gold vs US Dollar”

Gold is currently in a consolidation phase around 2335.42. Today, a decline towards 2316.00 is possible, followed by a rise towards 2341.50. A breakout of this level will open the potential for a wave towards 2385.00 (testing from below).

XAUUSD

S&P 500

The stock index has completed a decline wave, reaching 5195.5 and corrected towards 5295.0. Today, the market is forming a narrow consolidation range around this level. With a downward breakout, the wave might continue towards 5170.0, representing the downtrend’s first target. With an upward breakout, a rise towards 5350.0 is not ruled out, followed by a decline towards 5170.0.

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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