Forex Technical Analysis & Forecast 19.11.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has finished another ascending correctional wave, which may be considered as the fourth Elliot wave. Possibly, the price may form the fifth one to reach 1.1150. Today, the pair may start forming the first descending structure of this wave with the first target at 1.1321.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the descending impulse along with the correction. Possibly, today the price may form a new descending structure to reach 1.2741 and then start another growth towards 1.2791. Later, the market may resume falling with the short-term target at 1.2710.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has expected the fourth descending wave, which may be considered as the fourth Elliot wave. Today, the pair may grow towards 1.0054 and then fall to reach 1.0025, thus forming a new consolidation range. If later the instrument breaks this range to the upside, the price may start the fifth ascending wave with the first target at 1.0192; if to the downside – choose an alternative scenario to form a new descending wave towards 0.9975 and then resume trading inside the uptrend.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has almost reached its downside target at 112.60. Possibly, today the price may grow to reach 113.43 and then resume trading inside the downtrend with the short-term target at 111.75.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed another ascending structure, which may be considered as the fifth correctional wave. Today, the pair may fall with the first target at 0.7242 and then start another growth to reach 0.7290. After that, the instrument may resume trading inside the downtrend towards 0.7155.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has reached the first target of another descending structure. Possibly, the pair may start a new consolidation range around 65.60. After that, the instrument may form one more ascending structure towards 66.90 and then resume trading inside the downtrend with the short-term target at 64.38.
XAUUSD, “Gold vs US Dollar”
Gold is trading downwards. Possibly, today the price may start the fifth descending wave to reach 1190.00. After breaking 1216.75, the market may reach the first target at 1207.45 and then resume growing to test 1216.75 from below.
BRENT
Brent is forming the second ascending impulse with the target at 68.88. Today, the pair may reach this target and then resume falling towards 67.20. After that, the instrument may form one more ascending impulse, the third one, to reach the first target at 69.69.
