Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
Having completed the descending wave at 1.0383 along with the correction up to 1.0484, EURUSD continues falling towards 1.0355. Later, the market may correct to return to 1.0484 and then resume trading downwards with the target at 1.0300.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.2100 along with the correction up to 1.2187, GBPUSD continues falling towards 1.2079 and may later correct up to 1.2200. After that, the instrument may start another decline with the target at 1.2000.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
USDJPY, “US Dollar vs Japanese Yen”
Having finished the descending wave at 135.83 and then forming a new consolidation range around this level, USDJPY has broken it to the downside and may later continue falling with the short-term target at 134.85. After that, the instrument may form one more ascending structure to return to 135.82 and then resume trading downwards to reach 134.66.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed the ascending wave at 0.9600 along with the correction down to 0.9535; right now, it is growing towards 0.9610. After that, the instrument may break this level to the upside and then form one more ascending structure with the target at 0.9685.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the descending wave at 0.6858 along with the correction up to 0.6915, AUDUSD is forming a new descending structure towards 0.6800. Later, the market may grow to return to 0.6858 and then resume trading downwards with the target at 0.6755.
BRENT
Brent is still correcting down to 110.00. After that, the instrument may start another growth with the target at 116.85 or even extend this structure up to 123.00.
XAUUSD, “Gold vs US Dollar”
Gold is falling towards 1799.40. Later, the market may grow to reach 1812.40 and then resume trading downwards with the target at 1791.30.
S&P 500
The S&P index is still falling towards 3690.0. After that, the instrument may correct up to 3817.5 and then form a new descending wave with the target at 3620.0.
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.
- Brent crude oil experiences modest uptick amid mixed market signals May 7, 2024
- FXTM’s Wheat: Touches fresh 2024 high! May 7, 2024
- The RBA kept all monetary policy settings. Oil rises amid the breakdown of negotiations between Israel and Hamas May 7, 2024
- Investors expect a hawkish stance from the RBA. Natural gas prices returned to growth May 6, 2024
- Trade Of The Week: Ripple ready to create waves? May 6, 2024
- COT Metals Charts: Speculator bets led by Gold & Steel May 4, 2024
- COT Bonds Charts: Speculator bets led lower by SOFR 3M & 10-Year Bonds May 4, 2024
- COT Soft Commodities Charts: Speculator bets led by Wheat, Soybean Meal & Corn May 4, 2024
- COT Stock Market Charts: Speculator bets led lower by S&P500 & MSCI EAFE May 4, 2024
- The British index has updated the historical maximum. Oil lost 5% over the week May 3, 2024