EURUSD yesterday reached upper target levels, breaking through the upper border of the triangle and breaking through the level of 1.0900. Taking into account holidays in many countries of Eurozone, as the main scenario today, we will consider a moderate decline of the pair from the current price of 1.0944 to the levels of 1.0927 and 1.0908. In case of an upward correction, we will consider possible targets at the top near the levels of 1.0978 and 1.0999.
GBPUSD yesterday also rose sharply with the support of fundamental factors, and the upper target levels, which we determined for ourselves, became only intermediate ones. Now the pair has corrected down and is trading in a narrow range between the levels of 1.2566 and 1.2550. We will focus on this range in the short term. If the pair leaves the range downwards, the possible target levels will be 1.2532 and 1.2508. If the pair consolidates above the range, then we will look for targets near the levels of 1.2589 and 1.2612.
USDCHF, mirroring on the European currency, has reached all lower target levels. Now the pair is demonstrating its intention to decline from the current price of 0.9650. Possible targets below can be defined near yesterday’s low at 0.9639 and 0.9629-0.9614. However, taking into account our expectations for the Euro, we will foresee possible targets at the top – near the levels of 0.9669 and 0.9685.
USDJPY after yesterday’s sharp growth leveled off a bit and even formed some semblance of a triangle on H1. However, on D1 we can see a narrowing channel down, and the current price – 107.13 – is close to the upper border of the channel – 107.45, so today, as the main scenario, we will consider a decline of the pair to levels 106.92 and 106.60. In case of correction of the pair upwards, the possible targets will be levels 107.45 and 107.76, if the price goes beyond the channel.
AUDUSD has suspended its growth and is now approaching the level of 0.6444, from which we will plan a rebound to resume the upward movement to the levels of 0.6486 and 0.6514. If the price nevertheless breaks through the lower border of the ascending channel at D1, which has not yet lost its relevance, then after the level of 0.6444, possible targets would be the levels of 0.6417 and 0.6389.
USDRUB – holidays in Russia.
Over the past 24 hours USDCAD has formed a new upward channel on H1, broken through its upper border and is now testing the level of 1.4000. As the main scenario, today we will consider the price return to the channel’s borders in order to declining to the levels of 1.3970 and 1.3955. If the pair manages to gain a foothold above the level of 1.4000, then after overcoming the level of 1.4021, the possible target levels are 1.4056 and 1.4080.
Gold chose a downward direction and formed a downward channel on H1. Now the price is returning to the borders of this channel at the level of 1683.00 with the aim of further decline to the levels of 1679.00 and 1670.00. In case of a price reversal and exit from the channel upwards, we will consider possible targets near the levels of 1687.00 and 1693.50.
Brent reached the upper target levels and is now correcting downwards, within the borders of the ascending channel on H4. From the current price 27.05 the technical potential for the decline is quite large – to levels 26.50-25.63. But we will not exclude the already revealed technical potential of the upward movement – the levels of 28.00 and 28.89 may become today the upper target levels if the downward correction appears small.
Bitcoin outlined its current borders of movement, forming an expanding channel on H4. Current support at 8757.50 may be the starting point for the return of the instrument to the upward movement. In this case, the targets may be the levels 8972.00 and 9257.50. If the support is weak, we will look for possible targets at the lower border of the channel – near the level of 8614.50 and below – near 8400.00.
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Forecasts should not be considered as guidance for trading.