Forex Technical Analysis & Forecast 28.07.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
The EUR/USD pair has reached its descending wave's target. For today we'd consider a possible correction move towards 1.1707. Another possible scenario is continuation of the downtrend to reach the 1.1637 level. If a consolidation range occurs at this level, the downward move can be extended and bring the pair to 1.1571. It has a local target.
The GBP/USD pair has completed a descending impulse. For today we'd consider a possible upward move towards 1.3098. Another scenario is declining towards 1.3042. If this level is broken through, the 1.2932 level can be achieved and hit.
The USD/CHF pair has hit the target of the ascending move. It broke through the 0.9630 level and then moved to 0.9822. Today the market is trading lower under pressure. A correction move towards 0.9630 is possible. The pair can also move higher to reach 0.9770. It has a local target.
The USD/JPY pair keeps trading lower under pressure. The current move can be treated as the fifth descending wave to reach the 109.90 level.
The AUD/USD pair has completed its descending impulse. For today we'd consider a correction move towards 0.8010. Then a downward move towards 0.7920 level is possible.
The USD/RUB pair is trading within a consolidation range near 59.43 level. Continuation of the current downtrend is expected to reach 58.64 level. Another scenario is development of a new consolidation range as continuation of the downtrend. The local target stands at 57.32.
Gold is trading lower under pressure. For today we'd consider a possible correction move towards 1244.60 level. Then the pair can move even higher to reach 1261.00 level. After that a correction move can occur which can bring the pair to 1235.00 level.
Oil has completed yet another target of an ascending move. For today we'd look into a consolidation range at the current lows. If this target is broken through from top downwards, a correction move towards 48.84 can happen. In case the upper edge of the range is broken, it is possible that price can hit 53.10 level.
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.