EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating and may expand this channel upwards to reach 1.0700. However, this growth may be considered as an alternative scenario only. The main scenario suggests that the price may continue falling inside the downtrend. The next target is at 1.0500. The main target of this descending wave is at 1.0300.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has reached the local target to expand its consolidation channel downwards and returned to 1.5106 to test it from below. We think, today, the price may continue falling to reach 1.5000. After that, the instrument may be corrected up to 1.5255. The entire descending wave may be considered as the central structure of the downtrend continuation pattern.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still being corrected towards 1.0110. However, this decline may be considered as an alternative scenario only. The main scenario suggests that the price may continue growing to reach 1.0385. After that, the instrument may form another correction towards 1.0100.
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a downside continuation pattern and right now is moving below it with the target at 121.85. After that, the instrument may return to 122.54 to test it from below.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar continues growing and expanding its consolidation channel upwards. We think, today, the price may reach 0.7300 and then form another consolidation channel. If the channel is broken upwards, the pair may grow to reach the target at 0.7398; if downwards – reach 0.7160.
USD RUB, “US Dollar vs Russian Ruble”
Ruble has broken its correctional channel. We think, today, the price may start forming another descending wave to break the minimum of its consolidation channel. The main target of this descending wave is at 60.00; the closest one – at 63.81.
XAU USD, “Gold vs US Dollar”
Gold is consolidating near its lows. The main scenario suggests that the price may reach 1081.12. After that, the instrument may reach a new low and then continue falling inside the downtrend towards 1015.00.Publication source