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Forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent

RoboForex Team RoboForex

EURUSD, “Euro vs US Dollar”

The EUR/USD pair has broken 1.1770 upwards and may choose an alternative scenario, which implies that the market may form another structure to extend the correction. Possibly, today the price may reach 1.1857 and then fall towards 1.1798. Later, in our opinion, the market may start another growth with the target at 1.1884.

GBPUSD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has reached the target of the third ascending wave. We think, today the price may form another consolidation channel and fall towards 1.3265. After that, the instrument may be corrected inside the fourth wave. The target is at 1.3198.

USDCHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has broken its consolidation channel and expanded it downwards. Possibly, today the price may move upwards to reach 0.9873 and then form another consolidation channel. Later, in our opinion, the market may break it to the upside and then continue growing with the target at 0.9940.

USDJPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached the correctional target. We think, today the price may grow to reach 112.00 and then fall towards 111.523, thus forming another consolidation range. After that, the instrument may break this range upwards and continue growing with the target at 113.20.

AUDUSD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming the second ascending impulse with the target at 0.7652. Later, in our opinion, the market may fall to reach 0.7604 and then start another growth towards the first target at 0.7676.

USDRUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has reached the target of the fourth wave. Possibly, today the price may form another consolidation range. After breaking it upwards, the instrument may start the fifth wave with the target at 60.60.

XAUUSD, “Gold vs US Dollar”

Gold has broken 1284 and expanded the range upwards. We think, today the price may fall to return to 1284. According to the main scenario, the price may continue forming the wave towards 1271. An alternative scenario implies that the market may reach 1296, break it, and then continue growing with the target at 1311.

BRENT

Brent is consolidating to break 63.15 upwards. Possibly, the price may break this level and continue growing towards 64.85. After that, the instrument may fall to return to 63.30 and then resume moving to the upside with the first target at 65.30.

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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.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

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Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

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