EURUSD yesterday worked out a scenario of decline to all target levels and even exceeded our expectations. However, during the night the pair partially regained their positions and now, waiting for the start of the European trading session, it is trading in the channel between the levels of 1.0876 and 1.0861. There is no pronounced trend for today, so we will focus on these levels. If the pair rises above the channel, the nearest target levels may be 1.0891 and 1.0906. If the pair leaves the channel downwards, the nearest targets may be the levels 1.0846-1.0831-1.0812.
GBPUSD also worked out all lower target levels and also regained its position in the opposite direction. Now the pair is trading near the “round” level of 1.2500 after an unsuccessful attempt to gain a foothold above it. Perhaps, this is a signal to return to the downward movement, and the nearest targets may be levels 1.2440 and 1.2411. If this is a pause before breaking up, then we will consider the levels of 1.2530 and 1.2560 as targets.
USDCHF worked out all yesterday’s upper targets, reaching the level of 0.9713, and now has found a balance between the levels of 0.9690 and 0.9675. A more likely scenario for today is the continuation of the upward movement to 0.9701, after which the potential for further growth to the levels of 0.9713 and 0.9725 will be opened. However, if the pair gains a foothold below the level of 0.9675, then we will look for targets near the levels of 0.9654 and 0.9635.
Over the last 24 hours USDJPY has worked out both lower and upper target levels. Now the pair continues to give conflicting signals, so we will focus on its current trading range between the levels of 107.83 and 107.70. In the coming hours a breaking through the lower limit of the range with possible targets around levels 107.55 and 107.34 looks more likely. However, a little later today, it is possible to work out the upper targets near the levels of 107.98 and 108.22.
AUDUSD also managed to work out both the upper and lower targets, what encourages us to continue to consider both possible options for price movements. Now the pair is trading near the level of 0.6370, and as the main scenario for today we will consider a decline to the levels of 0.6338 and 0.6302. As a backup plan for possible growth, we define possible targets at the top near the levels of 0.6409 and 0.6427.
USDRUB was trading at technical levels yesterday, although the decline exceeded our expectations. Today, the opening of trading is expected around the level of 73.81 with the prospect of growth to the levels of 74.32 and 74.58. For the pair decline scenario, we’ll define the levels of 73.42 and 73.16 as possible targets.
For USDCAD the night was productive and the pair fell to 1.4005, with subsequent correction to the current level of 1.4020. There are no clear signals for a further decline, but attempts to break the psychologically important level of 1.4000 downwards are possible enough to indicate targets below – 1.4000 and 1.3980. For the upward correction scenario, possible targets would be levels 1.4047 and 1.4060.
Gold “looks” down. The current price of 1707.00 gives reason to expect attempts to gain a foothold below the level of 1700.00 with the following possible targets near the levels of 1692.00 and 1685.00. If attempts to break down the level of 1700.00 are unsuccessful, then the nearest targets at the top are the levels of 1720.00 and 1726.00.
Brent can not gain a foothold above the level of 28.05, despite numerous attempts. Now oil is trading near the level of 27.51 with the prospect of a decline to the levels of 27.04 and 26.30. However, the possibility of a breaking through the level of 28.05 can also not be excluded, therefore, the nearest possible targets at the top are levels 28.05 and 28.85.
Bitcoin demonstrates its intention to correct its yesterday’s growth. And from the current price of 7060.00, the nearest targets below may be the levels of 7002.00 and 9625.00. In the case of a new growth impulse, we will look for target levels around 7157.00 and 7200.00.
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Forecasts should not be considered as guidance for trading.