Forex Technical Analysis & Forecast 11.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is growing towards 1.1792. After that, the instrument may fall with the target at 1.1749 and then grow to reach 1.1810 to finish the correction. Later, in our opinion, the market may start forming another descending wave towards 1.1697.

 

GBP USD, “Great Britain Pound vs US Dollar”


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The GBP/USD pair is falling inside the third descending wave. Possibly, the price may reach 1.2913 and then grow towards 1.3035.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is being corrected towards 0.9577. After that, the instrument may grow to reach 0.9675, break it to the upside, and continue moving upwards with the target at 0.9782.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed the descending wave; at the daily chart, it has reached the downside border of the consolidation channel. We think, today the price may form another consolidation range to the upside towards 110.40 at least. If later the instrument breaks it to the upside, the market may start another correction towards 112.18; if to the downside – continue falling inside the downtrend with the target at 106.50.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still forming the third descending wave. Possibly, today the price may grow towards 0.7898 and then move downwards with the target at 0.7816. After that, the instrument may grow to return to 0.7898 and then fall inside the downtrend towards the local target at 0.7755.

 

USD RUB, “US Dollar vs Russian Ruble”

the USD/RUB pair has almost completed the consolidation range at 60.03. We think, today the price may break it upwards to reach 60.69 and then fall to return to 60.03. If later the instrument breaks the Triangle pattern to the upside, the market may continue growing towards 61.00; if to the downside – fall with the target at 59.00.

 

XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is moving upwards; it has already reached its target. Possibly, today the price may continue consolidating at the highs. If later the instrument breaks this range to the upside, the market may grow towards 1296; if to the downside – fall with the target at 1267.

 

BRENT

Brent has reached the target of the ascending wave and right now is being corrected to the downside. The target is at 50.70. Later, in our opinion, the market may grow inside the fifth wave towards 55.05.

 

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.