Forex Technical Analysis & Forecast 16.06.2021
EURUSD, “Euro vs US Dollar”
After completing the correction at 1.2146, EURUSD is forming a new consolidation range around 1.2124. Possibly, the pair may expand the range up to 1.2150 and then resume trading downwards with the first target at 1.2090.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating around 1.4093. Possibly, today the pair may continue trading downwards with the target at 1.4000 and then start another correction to reach 1.4100.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating below 72.42. Today, the pair may fall towards 71.00 and then start another correction to reach 71.42. Later, the market may form a new descending structure with the target at 70.70.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the ascending wave at 110.15; right now, it is consolidating below this level. Possibly, the pair may start a new correction to reach 109.70 and then form one more ascending structure with the first target at 110.55.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.8989. Possibly, the pair may break the range to the upside and reach 0.9052. Later, the market may start a new correction to return to 0.8989 and then form one more ascending structure with the target at 0.9066.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7696. Possibly, today the pair may expand the range up to 0.7733 and then resume trading downwards with the first target at 0.7667.
BRENT
After completing the ascending wave at 74.00, Brent is still moving upwards to reach 74.74. Possibly, the asset may continue growing with the target at 75.55. After that, the instrument may start a new correction to reach 70.00.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1860.70. Possibly, the metal may fall towards the short-term target at 1820.50 and then start a new correction to return to 1860.70. Later, the market may resume trading downwards with the target at 1800.00.
S&P 500
The S&P index is still growing with the short-term target at 4275.1. After that, the instrument may correct downwards to reach 4166.0 and then form one more ascending structure with the target at 4303.0.
