EURUSD, “Euro vs US Dollar”
The EURUSD pair continues developing a consolidation range around 1.0700. A growth link to 1.0717 is expected. Next, a decline link targeting 1.0700 is not excluded (testing from above). After that, the quotes could rise towards 1.0722, from which level the correction might extend to 1.0733. Once the correction is over, a new decline wave targeting 1.0585 is expected, which is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBPUSD pair has formed a support at 1.2422. Today the market continues developing a correction wave targeting 1.2487. Once this level is reached, a decline link to 1.2472 is not excluded (testing from above). Next, a new growth structure to 1.2492 is expected, followed by a further correction towards 1.2500. After the correction is over, a new decline wave targeting 1.2200 is expected.
USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair has formed a support level at 155.20. Today the market confirms the development of a growth wave targeting 155.66. Once this level is reached, a decline link to 155.41 is not excluded (testing from above). Next, a growth wave could continue towards 155.86, from which level the trend might extend to 155.95. This is the first target.
USDCHF, “US Dollar vs Swiss Franc”
The USDCHF pair continues developing a consolidation range around 0.9140. With an upward escape from the range, the potential for a wave targeting 0.9161 might open. With a downward escape, a decline link to 0.9120 is not excluded (testing from above). Next, a new growth wave targeting 0.9195 could begin. This is the first target of the growth wave.
AUDUSD, “Australian Dollar vs US Dollar”
The AUDUSD pair has formed a support line at 0.6488, and now a growth link to 0.6518 might follow. Next, a decline to 0.6477 is expected. This level is the first target of a new decline wave. Once the price reaches this level, a correction link towards 0.6500 might follow.
BRENT
Brent continues developing a consolidation range around 87.30 without any obvious trend. Today the range could expand to 88.05, from where the price might drop to 87.30 (testing from above). With an upward escape from the range, the potential for a wave targeting 89.30 might open. With a downward escape, a correction link to 86.20 is not excluded. Next, a rise to 89.30 could follow, from which level the trend might continue towards 92.00. This is a local target.
XAUUSD, “Gold vs US Dollar”
Gold continues developing a consolidation range around 2305.00. A growth link targeting 2339.00 could follow (testing from below). Next, a new decline wave to 2275.00 is expected, from which level the trend might extend to 2200.00, which is a local target.
S&P 500
The stock index has formed a correction wave targeting 5092.2. A decline link targeting 4955.0 might form. Once this level is reached, a growth link to 5025.0 is not excluded (testing from below). Next, a decline towards 4877.0 could form, from which level the trend might extend to 4811.0. This is the first target of the decline wave.
Source: Roboforex
