EURUSD, “Euro vs US Dollar”
EURUSD has formed a correction to 1.0799. Currently, the market is forming a narrow consolidation range under this level. A range extension link to 1.0805 is not excluded today. Next, a decline to 1.0730 might follow, from where the trend could extend to 1.0666. This is a local target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed a correction to 1.2642. A consolidation range is expected to form around this level today. A growth link to 1.2650 is not excluded, followed by a decline to 1.2598. If this level also breaks, the potential for a decline wave to 1.2464 might open.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is forming a decline wave structure to 148.92. Once this level is reached, a correction to 149.20 could form. Practically, a consolidation range is forming at these levels. With a downward escape from the range, a new decline wave to 147.66 might begin. This is the first target.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has performed a growth wave to 0.8757. A consolidation range is expected to form under this level. With a downward escape, a correction link to 0.8725 is not excluded. With an upward escape, the growth wave could continue to 0.8792, from where the trend might continue to 0.8828.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD continues developing a consolidation range around 0.6505. An escape from the range downwards to 0.6467 is expected today. Next, the quotes could correct to 0.6505. After that, a decline to 0.6450 might form, from where the wave could continue to 0.6400. This is the first target in the decline structure by the downtrend.
BRENT
Brent continues forming a consolidation range under 82.12. With an escape from the range downwards, a correction link to 79.10 is not excluded. With an upward escape, the potential for a growth wave to 83.63 might open. This is a local target. Once this level is reached, a correction to 81.30 could follow. Next, a rise to 85.90 is expected. This is the first target.
XAUUSD, “Gold vs US Dollar”
Gold has completed a correction wave to 2036.77. By now, the market has completed a decline wave to 2020.25. A consolidation range is forming above this level today. The quotes might escape the range downwards and continue the decline wave to 2006.06. Once this level is reached, a correction to 2020.25 is expected (a test from below). Next, a decline to 1998.50 could follow.
S&P 500
The stock index has completed a growth wave to 5030.0. A narrow consolidation range is forming under this level today. A growth link to 5034.0 is not excluded. Next, a decline wave to 4995.0 could form. This is the first target.
