EURUSD, “Euro vs US Dollar”
After expanding the consolidation range up to 1.0770 and then rebounding from this level EURUSD is forming a new descending wave with the target at 1.0585 or even extend this structure down to 1.0544. Later, the market may start another correction to reach 1.0660.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating around 1.2540 without any specific direction. Possibly, the pair may expand this range up to 1.2651 and then start a new decline to break 1.2430. After that, the instrument may continue trading downwards with the target at 1.2375 or even extend this wave down to 1.2155.
USDJPY, “US Dollar vs Japanese Yen”
After completing the correction at 133.20 and rebounding from it, USDJPY is forming another ascending wave towards 135.05. Later, the market may start one more correction to reach 134.50 and then resume moving within the uptrend with the target at 136.30.
USDCHF, “US Dollar vs Swiss Franc”
Having finished the ascending structure at 0.9790, USDCHF is consolidating there. Possibly, today the pair may break the range to the upside and resume trading upwards with the short-term target at 0.9873.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the descending wave at 0.7143 and then forming a new consolidation range there, AUDUSD has broken it to the downside. Possibly, the pair may correct to test 0.7143 from below and then resume trading within the downtrend with the target at 0.7000.
BRENT
Brent has finished the correctional structure at 122.60; Today, the asset may grow to break 125.00 and then continue trading upwards with the target at 127.00, or even extend this structure up to 131.50.
XAUUSD, “Gold vs US Dollar”
Having completed the descending wave at 1840.00 along with the ascending structure towards 1850.00, Gold is forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may resume falling to reach 1820.00; if to the upside – form one more ascending wave with the target at 1858.30, or even extend this structure up to 1880.00. After that, the instrument may start a new decline towards 1800.00.
S&P 500
After finishing the descending wave at 4020.0, the S&P index is still consolidating there. If later the price breaks this range to the upside, the market may correct towards 4111.1 and then form a new descending structure to reach 3800.0; if to the downside – resume falling with the target at 3820.0.
Source: Roboforex
