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Forex Technical Analysis & Forecast 31.05.2017 (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 completed the ascending correctional structure. We think, today the price may form the fifth descending wave with the target at 1.1091. Later, in our opinion, the market may grow to reach 1.1179.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is forming the third descending wave with the target at 1.2726; right now it is forming the fifth structure. We think, today the price may reach the above-mentioned target. After that, the instrument may be grow towards 1.2850.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has finished the descending correction. Possibly, the price may reach 0.9730. Later, in our opinion, the market may grow towards 0.9812 and then continue falling with the target at 0.9752.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has completed the descending structure and almost finished the correction; it has broken the Flag pattern. Possibly, the price may continue growing with the target at 112.42. We think, today the price may form another ascending structure to reach 111.46. After that, the instrument may form another consolidation range, break it to the upside, and reach the above-mentioned target. Later, in our opinion, the market may fall towards 110.45.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has almost completed the correction and returned to the broken channel. Possibly, today the price may move downwards to reach the first target at 0.7350.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is consolidating around 57.00. We think, today the price may grow towards 57.20 and then fall to reach 55.50. Later, in our opinion, the market may resume growing with the target at 57.00.

 

XAU USD, “Gold vs US Dollar”

Gold is consolidating around 1260.00. Possibly, today the price may be corrected to the downside to reach 1254.80. After that, the instrument may grow towards 1274.60 and then fall with the target at 1260.00.

 

BRENT

Brent is forming the fifth correctional structure. Possibly, today the price may fall to reach 51.00 and then test 51.60 from below. Later, in our opinion, the market may fall towards 50.80 (at least) and then form another ascending wave to reach 55.68.

 

RoboForex Analytical Department

 



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