A quick recap of the most popular instruments of the day.
After breaking 1.1280 to the upside and then reaching 1.1345, EUR/USD has finished the descending impulse at 1.1300 along with the correction towards 1.1325. Possibly, today the pair may form a new descending structure to reach 1.1260 and then resume continue trading upwards with the target at 1.1350.
After expanding the consolidation range up to 1.2540, GBP/USD is trading downwards to reach 1.2420. After that, the instrument may start another growth towards 1.2482, thus forming another consolidation range between the two latter levels. If later the price breaks this range to the downside, the market may resume falling with the target at 1.2277.
USD/RUB is still falling towards 68.40. After that, the instrument may correct to reach 69.20 and then resume trading downwards with the target at 67.80.
After finishing the descending wave at 106.06, USD/JPY has completed the ascending impulse towards 106.55; right now, it is consolidating around this level. Possibly, the pair may continue growing to reach 106.90 and then fall towards 106.50. Later, the market may resume trading upwards with the target at 107.25.
After reaching the downside target at 0.9420, USD/CHF has completed the ascending impulse towards 0.9453 along with the correction at 0.9435, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume growing towards 0.9550; if to the downside – form a new descending structure with the target at 0.9419.
After completing the ascending wave at 0.6975, AUD/USD has finished the descending impulse towards 0.6923 along with the correction at 0.6960, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure towards 0.7022; if to the downside – resume trading downwards with the target at 0.6800.
Brent has completed the ascending wave towards 43.90; right now, it is falling to reach 41.37. Later, the market may start another growth towards 42.60 and then form a new descending structure with the target at 40.30.
After breaking 1763.00 to the upside, Gold is expected to continue growing towards 1776.20. Later, the market may fall to return to 1763.00 and then form one more ascending structure with the target at 1800.00.
BTCUSD is consolidating around 9600.00. Possibly, the pair may fall towards 9500.00 and then form one more ascending structure to reach 9850.00. After that, the instrument may resume falling inside the downtrend with the target at 9500.00.
The Index is still consolidating around 3114.0. Possibly, today the pair may grow to reach 3165.5 and then fall to return to 3114.0. If later the price breaks this range to the downside, the market may resume trading downwards to reach 2958.5; if to the upside – form one more ascending structure with the target at 3233.3.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
Disclaimer
Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
Dmitriy has Masters Degree in Finance from London School of Economics and Political Science, and a Masters Degree in Social Psychology from National Technical University of Ukraine. After receiving postgraduate degree he began working as the Head of Laboratory of Technical and Fundamental Analysis of Financial Markets at the International Institute of Applied Systems Analysis. The experience and skills he gained helped him to realize his potential as an analyst-trader and a portfolio manager in an investment company.