Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

The EUR/USD pair has completed a growth wave at 1.0880. Today the market is forming a decline structure aiming 1.0822. Once this level is reached, a correction link targeting 1.0852 (testing from below) is not excluded. Next, a decline by the trend towards 1.0777 is expected, from which level the trend might extend to 1.0747. This is the first target.

GBP/USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed a growth wave at 1.2707. Today the market is forming a decline structure towards 1.2633. Once this level is reached, a correction link targeting 1.2670 is not excluded, followed by a decline towards 1.2575, from which level the trend could extend to 1.2533. This is the first target

USD/JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues developing a consolidation range around 151.70. The range might later expand towards 151.50. Next, a growth wave to 151.85 could follow, from where the trend might continue to 152.20. This is the first target.

USD/CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has corrected to 0.9012. A wave targeting 0.9050 is expected to form today, potentially extending the trend to 0.9090. This is a local target.

AUD/USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has formed a correction wave targeting 0.6643. Today the market is forming a consolidation range under this level. The range could later expand towards 0.6650, after which a decline to 0.6600 could follow. And if this level also breaks, the potential for a wave towards 0.6545 could open. This is the first target.

Brent

Brent continues forming a consolidation range above 88.88. Today it might rise to 90.66. And if this level also breaks upwards, the potential for a wave extension to 93.00 could open, from which level the trend might continue to 97.00. This is a local target.

XAU/USD, “Gold vs US Dollar”

Gold has formed a growth wave towards 2365.30 and a correction link to 2340.00. A growth structure aiming 2366.76 is expected today, from which level the trend might continue towards 2380.70. This is a local target. Once this level is reached, a correction to 2288.00 might begin.

S&P 500

The stock index is forming a consolidation range around 5205.0 without any obvious trend. Next, a decline to 5188.0 could follow. With a downward escape from the range, the wave might extend to 5170.0. And if this level also breaks, the potential for a wave targeting 5125.0 might open. This is the first target.