Forex Technical Analysis & Forecast 17.06.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing the third descending wave at 1.1990, EURUSD is expected to form a new consolidation range near the lows. Possibly, the pair may break the range to the upside and correct towards 1.2111. Later, the market may resume trading downwards with the target at 1.1960.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3979, GBPUSD is consolidating near the lows. Possibly, today the pair may break the range to the upside and then start a new correction to reach 1.4093.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating below 72.42. Today, the pair may start another growth to reach 72.72 and then form a new descending structure with the target at 71.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 110.77; right now, it is consolidating below this level. Possibly, the pair may start a new correction to reach 110.20 and then form one more ascending structure with the first target at 111.44.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9090, USDCHF is consolidating below this level. Today, the pair may start a new correction to reach 0.8990 and then form one more ascending structure with the target at 0.9170.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending wave at 0.7600; right now, it is consolidating below this level. Possibly, today the pair may break the range to the upside and resume trading upwards with the target at 0.7696.

BRENT

Brent is still moving above 72.72. Possibly, the asset may continue growing towards 74.74 and then start another correction to return to 72.72. After that, the instrument may form one more ascending structure with the short-term target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1810.00; right now, it is consolidating above this level. Possibly, the metal may break the range to the upside and correct towards 1860.70. Later, the market may resume trading downwards with the target at 1800.10.

S&P 500

After finishing the ascending wave at 4270.2, the S&P index is falling and may later correct downwards to reach 4166.1. After that, the instrument may form one more ascending structure with the target at 4303.0.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.