Forex Technical Analysis & Forecast 09.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
09.05.2018EURUSD, “Euro vs US Dollar”
EURUSD has reached the target of the descending wave. Possibly, today the price may form another consolidation range near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.1980; if to the downside – resume falling towards 1.1824 or even reach 1.1760.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3685; if to the downside – resume falling towards 1.3382.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 1.0020. Possibly, today the price may fall to reach 0.9990 and then grow towards 1.0055. However, after breaking the range to the upside, the market may continue its growth with the target at 1.0116.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed another ascending structure. Today, the price may fall towards 109.07. If later the instrument breaks this pattern to the downside, the market may start another decline to reach the short-term target at 107.60; if to the upside – continue growing towards 110.10.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has broken the downside border of the range and right now is still moving downwards. Possibly, today the price may reach 0.7420. After that, the instrument may start another ascending structure with the target at 0.7470 and then resume falling towards 0.7377.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating. Today, the price may fall to reach 62.20 and then grow towards 63.20. If later the instrument breaks this range to the downside, the market may resume falling inside the third wave towards 59.20; if to the upside – grow to reach 65.00.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1311.00. If later the instrument breaks this range to the downside, the market may resume falling to reach 1297.00; if to the upside – continue the correction towards 1320.00.
BRENT
Brent has rebounded from 73.00 and broken the high of its consolidation range. Possibly, the price may grow to reach 79.45 and then fall towards 76.40. Later, the market may start another growth with the target at 80.15.
RoboForex Analytical Department
Attention!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.