Forex Technical Analysis & Forecast 22.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has almost completed the ascending correctional structure. We think, today the price may form another descending impulse to reach 1.1741 and then grow towards 1.1780. After that, the instrument may fall to reach 1.1666, break it to the downside, and then continue forming the third wave with the local target at 1.1500.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is still consolidating and forming another ascending structure towards 1.2929. Later, in our opinion, the market may fall to break this range to the downside and reach 1.2732.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has completed the descending wave and right now is moving upwards. Possibly, the price may reach 0.9796, break it, and then continue growing with the local target at 0.9736.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is still consolidating around 109.05. Possibly, today the price may reach 109.48 and then fall towards 108.09. Later, in our opinion, the market may from another consolidation range, break it, and move downwards with the target at 107.20.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has finished the correction. We think, today the price may form another descending structure towards 0.7857, break it, and then continue falling with the local target at 0.7755.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has reached the target of the descending wave. Possibly, today the price may form another consolidation range at the lows. The upside border of the range is expected at 59.43. After that, the instrument may fall towards 59.20, break it, and then start another correction with the target at 59.90.
XAU USD, “Gold vs US Dollar”
Gold is forming another descending wave with the target at 1279.15. After that, the price may grow towards 1289.89, thus forming another consolidation channel. If later the instrument breaks this channel to the downside, the market may fall towards 1255.00; if to the upside – continue growing with the target at 1312.00.
BRENT
Brent has returned to 51.22 and is trading to rebound from it to the upside. We think, the price may form another ascending structure towards the local target at 54.10. The main target of this wave is at 55.15.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.