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EURUSD, “Euro vs US Dollar”
EURUSD continues moving according to an alternative scenario, which implies that the price may continue the correction. Possibly, today the pair may reach 1.1445 and then form a new consolidation range at the top of this wave. However, according to the main scenario the instrument is expected to continue trading inside the downtrend towards the downside border of the range at 1.1400.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading upwards to each 1.2762. Later, the market may form a new descending structure with the short-term target at 1.2655.
USDCHF, “US Dollar vs Swiss Franc”
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USDCHF has reached one more descending structure. Possibly, today the pair may form a new consolidation range close to the current lows. However, after breaking the channel of the fifth descending wave, the instrument may resume trading inside the uptrend with the first target at 1.0007.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has almost finished the descending structure. Today, the pair may form a new consolidation range near the lows. If later the instrument breaks this range to the upside, the price may start another correction to reach 113.20 and then form a new descending structure with the short-term target at 111.66.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the first descending impulse; right now, it is consolidating. If later the instrument breaks this range to the upside, the price may be corrected to reach 0.7300 and the resume trading inside the downtrend with the short-term target at 0.7075.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating near the downside border of the range. Possibly, the pair may fall to break 65.60 and then continue trading inside the downtrend with the short-term target of the third wave at 65.00.
XAUUSD, “Gold vs US Dollar”
Gold is trading upwards. Possibly, the pair may expand the current range up to 1252.30 and start another decline towards 1244.40. Later, the market may form one more ascending structure to reach 1257.00 and then resume falling with the first target at 1235.90.
BRENT
Brent is forming the third ascending wave towards 64.46. After that, the instrument may form a new consolidation range, break it upwards, and continue trading inside the uptrend with the short-term target at 67.77.
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.