Amid worsening investor expectations and economic data from the eurozone, EURUSD reached all lower target levels and stopped the decline only at 1.0800. Now the pair has found a balance near the level of 1.0900. As possible targets below we will consider the levels of 1.0800, 1.0780 and 1.0715 today. The upper targets may become the levels of 1.0957 and 1.1040.
GBPUSD sank to its historic low of 1.1470, without any technical support at levels higher. The only option for traders now is to orient at “round levels”, until a new market forms new benchmarks. Based on this, the closest targets at the top can be 1.1500 and 1.1600, and next down targets can be 1.1400 and 1.1300.
USDCHF could not gain a foothold above the level of 0.9725 and rolled back to the area of 0.9685. Today the pair is expected to continue to grow to the levels of 0.9725 and 0.9793. In case of downward correction, the targets may be 0.9635 and 0.9600.
USDJPY reached the footing level at 109.55 and rolled back to 109.00. It doesn’t seem that the pair is going to stop there, so today it is expected to continue to grow to levels 109.55 and 110.20. In case of correction of the main movement, the levels of 108.27 and 107.80 may become lower targets.
Economic data from Australia, together with the general sentiment of investors, led to a serious decline of AUDUSD – the level of 0.5510 is a 17-year low. If the decline continues, the targets may be the levels of 0.5510 and 0.5415. If we see a correction up, then the possible targets would be the levels of 0.5640 and 0.5720.
For USDRUB the only guideline now is the current price of oil, which updates minimum by minimum. Without the intervention of the Central Bank, the price in the current conditions can reach 82 rubles per dollar today, if the price of oil continues to decline. The current target levels above will be 82.10 and 84.00. In case of correction of oil prices, the targets below may be the levels of 79.00 and 78.00.
Amid speculations about the only strong US dollar, the USDCAD pair is steadily moving towards the level of 1.4715. Today a downward correction is expected to levels 1.4530 and 1.4475. In case of breaking through the level of 1.4715 up, the following targets may be the levels of 1.4800 and 1.4855.
Gold has reached the lower target levels and is now trading above the level of 1467.50. In case of breaking through the level of 1485.00 upwards, the targets may become the levels of 1498.00 and 1510.00. In the case of a decline of the instrument, the target levels may be 1452.00 and 1440.00.
Brent is trying to stop its falling and is now trading around 26.00. Yesterday’s lows will serve as lower targets for today – 24.80 and 24.25. We will look for upper targets at the levels of 27.00 and 28.00.
BTCUSD took a break and is trading in a narrow channel between 5042.00 and 5375.00. In case of exit from the channel upwards, the targets may be the levels 5557.00 and 5955.00. In case of exit from the channel down, the possible targets would be 4742.00 and 4412.00.
Forecasts should not be considered as guidance for trading.