Forex Technical Analysis & Forecast 30.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has almost completed the correction. Possibly, today the pair may reach 1.1641 and then grow towards 1.1685, thus forming a new descending wave along with the correction. After that, the instrument may break the lows and start the third descending wave with the short-term target at 1.1530.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken its consolidation range upwards and reached the target of the ascending structure. Today, the price may fall to reach 1.2945 and then start another growth towards 1.2993. Later, the market may resume trading to the downside with the first target at 1.2863.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has broken its consolidation range downwards and finished another five-wave descending structure. Possibly, today the pair may grow to reach 0.9740 and then start a new consolidation range with a reversal pattern. After that, the instrument may break the range upwards to reach the first target at 0.9777.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached the target of the ascending structure. Today, the price may fall towards 111.30 and then grow to reach 111.55, thus forming another consolidation range. If the instrument breaks this range to the downside, the price may resume falling with the first target at 110.55.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is falling to reach the downside border of the Triangle pattern at 0.7260. Later, the market may form a new ascending structure towards the upside border at 0.7333. If the instrument breaks this pattern to the downside, the price may start another decline with the target at 0.7160.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 67.41. Possibly, today the pair may rebound from 68.37. The target is at 66.80. If the instrument breaks this range to the downside, the price may continue falling inside the downtrend with the short-term target at 65.75.
XAUUSD, “Gold vs US Dollar”
Gold is moving downwards. Possibly, the pair may reach the first target at 1196.75 and then grow towards 1207.70. Later, the market may resume trading to the downside to return to 1186.20.
BRENT
Brent has broken 77.00 upwards and may continue trading towards 82.00. Today, the price may grow to reach 79.00 and start another consolidation range. If the instrument breaks this range to the upside, the price may resume growing with the target at 82.00.
