EURUSD, "Euro vs US Dollar"
The EUR/USD pair has almost completed the correction and right now forming a new descending impulse. Possibly, the price may reach 1.17954 and then grow towards 1.1816. After that, the instrument may resume falling to reach 1.1726. And that's just a half of the wave with the local target at 1.1600.
GBPUSD, "Great Britain Pound vs US Dollar"
The GBP/USD pair has broken the consolidation channel downwards and right now is still falling. The local target of the wave is at 1.3050. Later, in our opinion, the market may be corrected towards 1.3131 and then continue falling inside the downtrend with the target at 1.2920.
USDCHF, "US Dollar vs Swiss Franc"
The USD/CHF pair has finished the correction along with the ascending impulse to break 0.9836, and right now is being corrected. We think, today the price may fall towards 0.9800. After that, the instrument may continue growing with the target at 0.9931.
USDJPY, "US Dollar vs Japanese Yen"
The USD/JPY pair is moving upwards. Possibly, the price may choose an alternative scenario and grow towards 114.08. According to the main scenario, the market may fall to reach 111.35.
AUDUSD, "Australian Dollar vs US Dollar"
The AUD/USD pair is still consolidating above 0.7821. If later the instrument breaks this range to the upside, the market may grow and reach 0.7925; if to the downside – resume falling inside the downtrend towards the local target at 0.7750.
USDRUB, "US Dollar vs Russian Ruble"
The USD/RUB pair is trading below 57.54 and may continue the correction to reach 57.86. Later, in our opinion, the market may continue falling inside the downtrend towards the local target at 56.65.
XAUUSD, "Gold vs US Dollar"
Gold has returned to 1288.80, rebounded from it downwards, and right now is still falling. Possibly, the price may fall to reach 1270.70 and then trade to the upside with the target at 1288.80.
BRENT
Brent has completed the correction. We think, today the price may grow to break the descending correctional channel. After that, the instrument may break the channel and continue moving upwards with the target at 58.90. Later, in our opinion, the market may fall towards 57.80 and then start another growth to reach 59.50.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD clings to recovery gains near 1.0850 ahead of Fedspeak
EUR/USD trades in positive territory near 1.0850 on Friday following a four-day slide. China's stimulus optimism and a broad US Dollar correction help the pair retrace the dovish ECB decision-induced decline. All eyes remain on the Fedspeak.
GBP/USD pares UK data-led gains at around 1.3050
GBP/USD is trading at around 1.3050 in the second half of the day on Friday, supported by upbeat UK Retail Sales data and a pullback seen in the US Dollar. Later in the day, comments from Federal Reserve officials will be scrutinized by market participants.
Gold at new record peaks above $2,700 on increased prospects of global easing
Gold (XAU/USD) establishes a foothold above the $2,700 psychological level on Friday after piercing through above this level on the previous day, setting yet another fresh all-time high. Growing prospects of a globally low interest rate environment boost the yellow metal.
Crypto ETF adoption should pick up pace despite slow start, analysts say
Big institutional investors are still wary of allocating funds in Bitcoin spot ETFs, delaying adoption by traditional investors. Demand is expected to increase in the mid-term once institutions open the gates to the crypto asset class.
Canada debates whether to supersize rate cuts
A fourth consecutive Bank of Canada rate cut is expected, but the market senses it will accelerate the move towards neutral policy rates with a 50bp step change. Inflation is finally below target and unemployment is trending higher, but the economy is still growing.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.