Forex Technical Analysis and Forecast
EUR/USD:
The currency pair recovered from 1.0693 and broke through 1.0572. A consolidation range is now formed beneath this level. The quotations should then break out of the range and continue the downward trend to 1.0450. The objective is regional.
GBP/USD:
The currency pair recovered from 1.2060 and broke through 1.1920. A consolidation range is now formed beneath this level. The quotations should then break out of the range and extend the wave down to 1.1776, from where a structure to 1.1699 may begin to build.
USD/JPY:
The currency pair has reached 137.89 after completing a round of rise. Today's market performance was a decrease to 136.48. A consolidation range is now formed above this level. With a downward escape, a path to 135.70 opens up, from which the wave might continue to 135.25.
USD/CHF:
The currency pair is still consolidating in a range of around 0.9360. With an upward escape, a route to 0.9660 should open up, from which the wave might continue to 0.9870.
AUD/USD:
The currency pair has finished a round of drop down to 0.6570. The market is currently creating a consolidation range above this level. Growth to 0.6644 is not ruled out, followed by a dip to 0.6513. The objective is to keep things local.
Brent:
Crude oil has finished a corrective wave at 81.87. The market is currently creating a consolidation range above this level. A path up to 85.25 should open with an escape uphill. If this level also breaks, the structure may grow to 87.87, from which the wave may go to 89.77. The objective is regional.
XAU/USD:
Gold continues to form a decline structure to 1802.50. Once it reaches this level, a growth connection to 1830.85 may emerge. Then a downward trend to 1774.44 should commence. The objective is regional.
S&P 500:
The stock index has finished a downward swing to 4000.0. The market is currently creating a consolidation range around this level. The following structure of fall to 3917.5 should begin to form, and the wave may even extend to 3788.0.