Forex technical analysis and forecast: Majors, equities and commodities
|EUR/USD, “Euro vs US Dollar”
The currency pair has completed a correction to 1.0790. Today the market is developing a new structure of decline. A link of decline to 1.0690 is expected, followed by growth to 1.0740 and a decline to 1.0655, from where the wave might extend to 1.0610. The goal is local.
GBP/USD, “Great Britain Pound vs US Dollar”
The currency pair has completed a wave of correction to 1.2193. Today the market continues developing a structure of decline to 1.2062. Then a link of growth to 1.2134 and a decline to 1.1990 should follow, from where the wave might continue to 1.1930. The goal is local.
USD/JPY, “US Dollar vs Japanese Yen”
The currency pair has completed a correction at 130.33. Today the market is forming a link of growth to 133.15. After this level is reached, a link of decline to 131.50 should follow.
USD/CHF, “US Dollar vs Swiss Franc”
The currency pair has completed a correction at 0.9166. Today a link of growth to 0.9260 is forming. Then a decline to 0.9211 and growth to 0.9305 should follow, from where the wave might extend to 0.9355.
AUD/USD, “Australian Dollar vs US Dollar”
The currency pair has completed a correction to 0.7010. Today a structure of decline to 0.6894 is forming. Then growth to 0.6952 and a decline to 0.6843 should follow, from where the wave might continue to 0.6781.
Brent
Brent has completed a link of growth to 85.22 and a link of decline to 83.30. Practically, a new consolidation range has appeared around 83.30. A new structure of growth to 87.62 is expected to develop. The goal is first.
XAU/USD, “Gold vs US Dollar”
Gold has completed a correction at 1889.99. Today the market is forming a link of decline to 1840.80. Then a link of growth to 1865.55 and a decline to 1819.70 should follow.
S&P 500
The stock index continues forming a structure of decline to 4050.0. After this level is reached, a new consolidation range should form around this level. With an escape downwards, the wave of decline should continue to 3923.5, from where it might continue to 3903.0. The goal is local.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.