EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken its consolidation range upwards and may choose an alternative scenario and start another correction to reach 1.1700. Later, in our opinion, the market may form another ascending structure towards 1.1828 to finish the correction and then continue falling inside the downtrend with the target at 1.1530.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating and forming a new ascending structure towards 1.3197. After that, the instrument may continue falling inside the downtrend with the local target at 1.2929.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has returned to the center of the third ascending structure and finished the correction. According to the main scenario, the instrument is expected to resume growing inside the uptrend to reach 0.9991.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the correctional target. We think, today the price may consolidate near the lows. After breaking the correctional channel, the market may start forming the fifth ascending wave to reach 115.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has reached the predicted target of the descending wave. Possibly, today the price may consolidate near the current lows. After breaking the descending channel, the market may start forming the fourth wave to reach 0.7840.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still moving upwards with the target at 60.20. Later, in our opinion, the market may fall towards 58.60 and then start forming the fifth ascending structure to reach 60.47.
XAU USD, “Gold vs US Dollar”
Gold is consolidating around 1277. If later the instrument breaks this range to the upside, the market may extend this correction towards 1311; if to the downside – continue falling to reach 1250.
BRENT
Brent has broken its consolidation range downwards and reached the first downside target. Possibly, today the price may grow to test 63.00 from below and then form another descending structure towards 61.00 to complete the correction. After that, the instrument may start another wave to the upside with the target at 65.75.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
US economy grows at an annual rate of 1.6% in Q1 – LIVE
The US' real GDP expanded at an annual rate of 1.6% in the first quarter, the US Bureau of Economic Analysis' first estimate showed on Thursday. This reading came in worse than the market expectation for a growth of 2.5%.
EUR/USD holds gains above 1.0700, as key US data loom
EUR/USD holds gains above 1.0700 in the European session on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
GBP/USD extends recovery above 1.2500, awaits US GDP data
GBP/USD is catching a fresh bid wave, rising above 1.2500 in European trading on Thursday. The US Dollar resumes its corrective downside, as traders resort to repositioning ahead of the high-impact US advance GDP data for the first quarter.
Gold price edges higher amid weaker USD and softer risk tone, focus remains on US GDP
Gold price (XAU/USD) attracts some dip-buying in the vicinity of the $2,300 mark on Thursday and for now, seems to have snapped a three-day losing streak, though the upside potential seems limited.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.