Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has broken the consolidation range to the upside and may continue moving inside the uptrend to reach 1.1200. This scenario should be considered as an alternative one. We think, today the price may test 1.0950 from above and then grow towards 1.1010. Later, in our opinion, the market may form anther descending structure to reach 1.0950 and then resume growing with the target at 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is forming the ascending structure with the target at 1.3010. Possibly, today the price may reach 1.2944 and then fall towards 1.2882. After that, the instrument may grow to reach 1.3010.
USD CHF, “US Dollar vs Swiss Franc”
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The USD/CHF pair has failed to form the ascending wave; it has broken the consolidation range to the downside. Possibly, the price may choose an alternative scenario and continue moving downwards to reach 0.9845. at the moment, the market may test 0.9900 from below.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has completed the descending impulse along with the correction; it has already broken the low of this impulse and right now is forming the third descending structure. The local target is at 111.82. After that, the instrument may test 112.24 from below and then resume falling with the target at 111.46.
AUD USD, “Australian Dollar vs US Dollar”
Being under pressure, the AUD/USD pair is moving downwards. Possibly, the price may reach 0.7362 and then start a correction towards 0.7460 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend with the target at 0.7220.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, the USD/RUB pair is growing. In fact, the market has responded to the oil prices decline. Possibly, the price may be corrected to reach 58.50 and then fall towards 57.60. After that, the instrument may grow with the target at 59.35.
XAU USD, “Gold vs US Dollar”
Gold is still falling. We think, today the price may reach 1215. Later, in our opinion, the market may be corrected towards 1250 and then continue moving downwards with the target at 1214.
BRENT
Brent is moving downwards. In fact, the market has chosen an alternative scenario to be corrected towards 41.62. The current structure may be considered as the third one. The predicted target is at 43.42. At the moment, the price may return to 50.00 to test it from below. After that, the instrument may continue falling to reach the above-mentioned local target.
RoboForex Analytical Department
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.