Forex Technical Analysis & Forecast 23.05.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is still moving downwards; it has formed another consolidation range around 1.1155 and right now is trading to break it to the downside. Possibly, the pair may reach the short-term target at 1.1130. After that, the instrument may form one more ascending structure to return to 1.1155 and then resume trading inside the downtrend with the target at 1.1125.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken 1.2688; right now, it is still trading to the downside. Possibly, today the pair may reach 1.2550 and then start another growth towards 1.2630. Later, the market may resume trading inside the downtrend with the target at 1.2475.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 1.0089. If later the price breaks this range to the downside, the instrument may form one more ascending structure towards 1.0066; if to the upside – resume trading inside the uptrend with the first target at 1.0128.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is moving downwards to reach 109.88. After that, the instrument may form one more ascending structure with the target at 110.77 and then start a new decline to return to 109.88.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is forming another descending wave. Today, the pair may break 0.6874; the target is at 0.6860. After that, the instrument may start a new correction towards 0.6890 and then resume trading inside the downtrend with the short-term target at 0.6814.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has broken its consolidation range downwards and may continue falling to reach 64.01. Later, the market may form one more ascending structure with the target at 64.75 and then continue trading inside the downtrend with towards 63.30.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating around 1274.88. Possibly, today the pair may fall to reach 1271.71 and then start a new growth towards 1280.80. After that, the instrument may resume trading inside the downtrend with the short-term target at 1261.10.
BRENT
Brent has reached the short-term downside target at 70.55; right now, it is still consolidating near the lows. If the price breaks this range to the upside, the instrument may be corrected to reach 71.65 at least and then start a new decline towards 70.25 to complete the correction. Later, the market may resume trading inside the uptrend with the target at 74.00.
