Forex Technical Analysis & Forecast 21.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has rebounded from 1.1400 upwards, broken the upside border of the range, and may start another correction towards 1.1525. Possibly, the pair may extend this structure up to 1.1575. Later, the market may fall to reach 1.1407 and then grow towards 1.1475, thus forming a new consolidation range. If later the instrument breaks this range to the downside, the price may resume falling inside the downtrend with the target at 1.1300; if to the upside – continue the correction towards 1.1640.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is moving upwards. Possibly, the pair may be corrected to reach 1.2875 and then fall towards 1.2780. Later, the market may resume growing with the first target at 1.2916 and then fall towards 1.2750, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may continue the correction to reach 1.3100 (an alternative scenario); if to the downside – resume falling inside the downtrend with the target at 1.2600.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken the range downwards and may continue the correction. Possibly, today the pair may grow towards 0.9915. After that, the instrument may start another decline to reach 0.9866. The main target of the correction is at 0.9844. Later, the market may continue growing with the target at 0.9950.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached the target of the descending wave. Today, the price may consolidate near the lows. If later the instrument breaks this range to the upside, the price may start another correction towards 110.97.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has broken the range upwards and may start a new correction to reach the target at 0.7395. Possibly, today the pair may fall towards 0.7320 and then grow to reach the above-mentioned target. After that, the instrument may resume falling inside the downtrend with the target at 0.7282.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 67.07. If later the instrument breaks this range to the upside, the price may reach 67.77; if to the downside – trade to break 65.90 and then start forming the third descending wave with the target at 64.04.
XAUUSD, “Gold vs US Dollar”
Gold is forming the third ascending wave with the short-term target at 1203.00. Later, the market may start another decline towards 1186.00. After that, the instrument may resume growing with the first target at 1212.00.
BRENT
Brent has reached the target of the ascending wave and may start a new correction towards 71.40, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may resume growing with the short-term target at 75.50; if to the downside – continue the correction towards 69.50.
