Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent
EURUSD, “Euro vs US Dollar”
The EUR/USD pair has reached the target level and formed the structure of the Expanding Triangle pattern. Possibly, today the price may be corrected to the upside to reach 1.1765 or even extend this structure towards the upside border of the range, which may be considered as a downside continuation pattern. After that, the instrument may fall towards 1.1666, break it downwards, and then continue forming the third wave. The local target is at 1.1550.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating at the lows. We think, the price may reach 1.2911 and then fall towards 1.2876. If later the instrument breaks this consolidation channel to the upside, the market may be corrected towards 1.3000; if to the downside – continue falling inside the downtrend with the target at 1.2732.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still consolidating around 0.9676. Possibly, today the price may complete the descending structure and then grow to reach 0.9695. After that, the instrument may fall towards 0.9647 and then continue moving upwards with the target at 0.9740.
USDJPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has formed another consolidation range and broken it downwards. Possibly, the price may continue falling towards 108.83 and then grow to reach 109.61. Later, in our opinion, the market may move downwards with the target at 108.21.
AUDUSD, “Australian Dollar vs US Dollar”
The AUD/USD pair is trading to rebound from the upside border of the Expanding Triangle pattern. We think, the price may continue forming the descending wave. The target is at 0.7733.
USDRUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is moving downwards. Possibly, the price may reach 58.96 and then start another correction with the target at 59.90.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating at the top of the ascending impulse. If later the instrument breaks this consolidation range to the downside, the market may be corrected towards 1278.55; if to the upside – grow with the target at 1300.00.
BRENT
Brent has broken the descending channel and completed the correction. We think, the price may continue growing towards 52.55 and then fall to reach 51.25. Later, in our opinion, the market may move upwards to reach the local target at 55.15.
Author
RoboForex Team
RoboForex
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.
