EURUSD returns to April levels. After a rather sharp decline to 1.0826, the pair did not develop a further decline and is now trading in the range between the levels of 1.0827 and 1.0847. Technically, the pair is able today to break through support around 1.0820-1.0817 downwards and to begin testing the level of 1.0800. If the price can get a foothold below, then the possible target levels will be 1.0787 and 1.0770. If the potential for breaking through support is not enough, then the upper targets today can become the levels of 1.0855 and 1.0872.
GBPUSD yesterday showed fairly calm channel trading, and only one top target level was reached. Now the pound has come close to the lower border of the channel at H4, and if the price can consolidate below the level of 1.2423, then we will again consider the possibility of testing the level of 1.2400 from above, with the prospect of a further decrease to 1.2385 and 1.2356. If the pair repeats yesterday’s scenario and uses the lower border of the channel as support, then the possible targets at the top will be levels 1.2482 and 1.2513.
USDCHF continues to trade inside the big triangle at D1. Yesterday’s growth exceeded our expectations, and the pair managed to gain a foothold above the level of 0.9700. However, during the entire night Swiss franc was being traded within the range between the levels of 0.9714 and 0.9731. Therefore, we will focus on the borders of this range. If the pair leaves the range upwards, 0.9751 and 0.9772 will become possible target levels. If the pair leaves the range downwards, the potential targets will be the levels of 0.9701 and 0.9682.
USDJPY continues to work out its technical levels, trading inside the downward channel on D1. At night the pair updated monthly lows near the level of 106.20, and today we will consider the continuation of the downward movement, as the main plan. From the current price of 106.34, the nearest targets below may be the levels of 106.14 and 106.00, with the prospect of a decline to 105.85 and 105.65. The closest targets at the top are the internal levels of the triangle on H4 – 106.54-106.62-106.71, but we will consider this scenario only after breaking through the lower border of this triangle near the level of 106.45 from below.
AUDUSD has formed a new downward channel on H4, which we will take today as a basis. The current price of 0.6432 is approximately the middle of the channel, located between the levels of 0.6444 and 0.6426, so we will focus on them. If the price exceeds the level of 0.6444, the possible targets will be the levels of 0.6462 and 0.6480. If the price consolidates below the level of 0.6426, then we will look for targets near the levels of 0.6404-0.6393-0.6382.
USDRUB continues to decline amid rising oil prices. Today we will consider the price range from 73.06 at the bottom to 74.50 at the top. The opening of trading in the Russian ruble may make some adjustments, but at the moment there are no reasons to go beyond this range.
USDCAD reached yesterday all the lower target levels, after what there was a rebound from 1.4000. Now the Canadian dollar has formed a triangle on H4, which we will consider today. The current price of 1.4048 is the lower border of the triangle, which may become short-term support. In this case, we will look for the upper target levels near 1.4069 and 1.4094-1.4100. If the lower border of the triangle is broken through downwards and the price gets a foothold below the level of 1.4033, then the possible targets below will be levels 1.4000 and 1.3978-1.3963.
Gold is traded inside the descending channel at H4 calmly enough and yesterday managed to work out both the lower and upper target levels. Today we will consider the continuation of channel trading with an advantage in the direction of lower prices. From the current price of 1702.50 the closest targets below may be the levels of 1697.00, 1694.00 and 1691.00. If the price does not fall below the level of 1700.00, then the closest targets will be the level of 1707.00 and the upper border of the channel near 1708.00. In case the price goes up from the channel, we also envisage possible target levels around 1712.00 and 1717.00.
Brent reached the upper target levels, that we planned yesterday, and now is close to monthly highs near the level of 32.00. The upper border of the upward channel has so far restrained further price growth, and today we will consider a downward correction as the main scenario. From the current level of 31.20 the closest target levels can be 29.82 and 28.89. If the growth potential is strong enough, then we will look for upper targets near the levels of 32.64 and 33.58.
Bitcoin has formed a new local channel on H4, which we will focus on today. The current price of 9034.00 is quite close to the upper border of the channel, and in the short term we will expect the growth of BTCUSD to the level of 9130.00. In case of breaking through this level upwards, the closest targets may be 9213.00 and 9342.00. If the price rolls down, the target level may be 8824.50, this is the lower border of the channel.
We are in Telegram
Forecasts should not be considered as guidance for trading.