Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has completed the ascending structure and right now is consolidating at the top. According to the main scenario, the price may fall to reach 1.1700. An alternative scenario suggests that the instrument may grow towards 1.1955, break it, and then extend this wave to reach 1.2100.
GBP USD, “Great Britain Pound vs US Dollar”
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The GBP/USD pair has almost completed the ascending structure. Possibly, today the price may form consolidation range, break it to the downside, and then continue falling with the first target at 1.3295.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating around 0.9843. According to the main scenario, the price may grow towards 0.9915. An alternative scenario suggests that the instrument may break this range to the downside to reach 0.9770 and then resume growing with the target at 1.0100.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached the target of the ascending wave and right now is consolidating at the top of it. We think, today the price may fall towards 111.73 and then move upwards to reach 113.20. An alternative scenario suggests that the instrument may form another descending structure with the target at 110.46.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating above 0.7547. If later the price breaks this range to the downside, the market may fall towards 0.7496; if to the upside – grow with the target at 0.7660.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still consolidating below 58.58. According to the main scenario, the price may trade to the downside and reach the local target at 57.45. After that, the instrument may grow to return to 58.58 and then start another decline towards 56.55.
XAU USD, “Gold vs US Dollar”
Gold is still moving downwards. We think, today the price may extend this wave towards 1265. Later, in our opinion, the market may start another ascending structure to reach 1282 and then resume falling with the target at 1250.
Brent is consolidating above 62.62. Possibly, today the price may break this range upwards and reach the target at 64.20. After that, the instrument may be corrected to return to 62.62 and then resume growing with the target at 66.00.
RoboForex Analytical Department
Article By RoboForex.com
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.