Forex Technical Analysis & Forecast: EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, Gold, Brent

EURUSD, “Euro vs US Dollar”

EURUSD is forming the first descending wave. Possibly, today the price may test 1.1391 from below and then fall with the first target at 1.1313. After that, the instrument may start a new correction to return to 1.1391 and then resume trading inside the downtrend to reach 1.1150.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed another consolidation range around 1.2848, broken it to the downside, and right now is trading without any particular direction below 1.2795. According to the main scenario, the price may form a new descending structure to reach 1.2710 and then start another growth to return to 1.2795. Later, the market may resume falling with the target at 1.2650.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken 0.9937 upwards. Possibly, the price may form the first impulse to reach 0.9971 and then start a new correction to return to 0.9937. After that, the instrument may resume trading inside the uptrend with the target at 1.0033.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken its descending channel. Possibly, the price may start a new correction; the first target is at 113.08. Later, the market may resume falling towards 112.69 and then grow to complete the correction at 113.40. After that, the instrument may continue trading inside the downtrend with the target at 111.00.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.7250 downwards and may continue falling with the target at 0.7170. Today, the pair may test 0.7250 from below and then resume falling towards the above-mentioned target. Later, the market may start a new correction to return to 0.7250 and then resume trading inside the downtrend to reach 0.7000.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating above 65.60. If later the instrument breaks this range to the upside, the price may start a new correction to reach 66.92; if to the downside – resume trading inside the downtrend with the short-term target at 63.03.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1223.10. Possibly, today the price may reach 1216.75 and then start another growth towards 1220.70. After that, the instrument may resume falling with the first target at 1209.85. 

BRENT

Brent is forming the first ascending impulse. Possibly, the price may reach the target at 68.30 and then resume falling towards 65.20. Later, the market may form one more ascending structure with the short-term target at 71.50.