EURUSD yesterday went down from the triangle on H4 and worked out the target levels that we planned. However, this did not clarify the further intentions of the pair, which continues to trade around 1.0800. The night range of movement was between the levels of 1.0787 and 1.0810, which we will focus on. If the pair moves out of the range upwards, the closest possible targets will be the level of 1.0827 and the upper border of the downward channel on D1 – 1.0855. If the pair moves out of the range downwards, then the target levels may be 1.0770 and 1.0752, this is the lower border of the channel on D1.
GBPUSD completed the decline scenario yesterday and easily passed the lower target levels. Further decline of the pair was stopped by the level of 1.2282, what confirms the relevance of the triangle on D1, which we will consider today. The lower border of this figure today may become support for growth to levels 1.2340 and 1.2384. If the impulse to decline is strong enough and the lower border is broken through, then the possible targets will be levels 1.2259 and 1.2235.
USDCHF habitually demonstrates the dynamics opposite to the European currency. One of the upper target levels that we planned yesterday was reached, and after that the pair found a balance between the levels of 0.9731 and 0.9741. Today we will also focus on borders of the triangle on D1. Possible targets below are 0.9714 and 0.9701. Possible targets at the top are levels 0.9761 and 0.9780.
USDJPY, after exiting the decline channel on D1, indicated its current growth opportunities – the level of 107.78. Therefore, as the main plan for today, we will consider the continuation of the correction of the pair downwards, from the current price of 107.40 to the levels of 107.22 and 107.10. As a backup scenario, we will note the level of 107.58: if the Japanese yen consolidates above, then we will look for possible targets for further growth near the levels of 107.78 and 107.98.
AUDUSD chose the decline scenario, but did not work out the full potential of movement to the lower border of the channel on D1. Therefore, the current price of 0.6455 has all chances to decline to 0.6430 and 0.6411, after which we expect an upward correction. However, the opening of the European trading session may bring changes in the intentions of the Australian dollar – in this case we will envisage possible targets around the levels of 0.6494 and 0.6509.
USDRUB is currently demonstrating relative stability. Good support to the Russian currency was provided by rising oil prices. However, today we will consider the possibility of moderate growth of the pair. The expected range for today: 73.90-74.33 – above, 72.90-72.77 – below.
USDCAD chose a growth scenario, returning to prices of last week. As a guideline today we will use the short-term upward channel on H1. For downward correction the pair needs to break through the lower border of the channel near the level of 1.4033, and then the possibilities for further movement to the levels of 1.4008 and 1.3978 will be opened. The Canadian dollar has enough opportunities to continue the growth, and from the current price of 1.4042 the possible targets will be the levels of 1.4082 and 1.4106.
Gold continues to work out the triangle on D1. The lower target levels have been achieved, however, today the main expected scenario will be a correction upward from the current price of 1700.00 to the levels of 1705.00 and 1712.00. The second possible scenario will be based on the level of 1694.00: if the instrument breaks through it downwards, we will look for targets for further decline near the levels of 1691.00 and 1686.00.
Brent cannot begin a full decline and is trading in flat near the upper border of the downward channel on D1. Therefore, we will focus on the current range of movement – between the levels of 30.01 and 30.80. If the price goes out of the range downwards, the possible targets will be levels 29.22 and 28.43. If the price goes out of the range upwards, the possible target levels will be 31.60 and 32.39.
Bitcoin continues to demonstrate high volatility, and yesterday fluctuations amounted to about 1000 US dollars. This made it possible to form a new upward channel on D1, which we will consider today. From below BTCUSD pair is supported by the levels of 8374.00 and 8284.00. The pair has great potential for moving upwards, and 8912.00 and 9202.00 can become the closest targets from the current price of 8741.00.
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Forecasts should not be considered as guidance for trading.