The EUR/USD has worked out a downside impulse. Today the market is trading the impulse’s correction. We assume a possible upside move towards 1.1200. Also, we can assume a possible yet another downside move to break the low and then decline further to 1.1100.
The GBP/USD has finished its upside wave. We treat this wave as a correction. Further we can expect a decline along the trend towards 1.2800. The target is a local one.
The USD/CHF pair has finished its upside impulse. Today the market is trading the impulse’s correction. We expect trading at 0.9770. Further the pair can rise to 0.9940.
The USD/JPY currency pair has traded yet another correction elongation pattern. For today, we can expect a decline towards 102.05. As another option, there is a rise pattern towards 104.50. And yet another possibility - a decline along the trend towards 96,00.
The AUD/USD currency pair has covered the estimated correction target and formed the fourth wave. For today, we leave open the possibility of yet another reaching of 0.7627 level and forming the fifth wave of this correction. …And then – decline along the trend to reach 0.7430. This pattern as a whole is treated as an integral part of the downtrend to reach 0.7100 level.
The USD/RUB currency pair has started a yet another downside pattern. For today, we can look into a possibility to reach 64.76 level. Another option is return to 65.38. Thus the market will set up its consolidation range. If the price moves down, we can expect a decline to 63.20. But if an upside breakout happens, we can expect a move to 66.00.
Gold has formed an upside impulse and its correction. Today the market’s upside momentum feels pressure and we see the 3rd wave. We expect a breakout of the high of the first impulse, and if the price forms a range, a rise can be expected to reach 1374. And this would be only a half of yet another rising wave. The main target is 1440.
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