EURUSD returned to the lower border of the upward channel on H4. All recent attempts of the pair to gain a foothold below the level of 1.0800 ended in failure, so today we will consider a similar scenario. From the current level of 1.0802 the nearest targets for an upward rebound may be the levels of 1.0817 and 1.0838, with the prospect of growth to 1.0864. If the lower border of the channel is nevertheless broken through, we will plan a decline of the pair to levels 1.0787 and 1.0770, after which the potential for testing the level of 1.0752 will be opened.
GBPUSD has come out of the big triangle on D1 and is now approaching monthly lows. Today we will consider a further decline of the pair from the current price of 1.2200 to the levels of 1.2173 and 1.2130. In case of an upward correction, we envisage possible targets near 1.2240 and 1.2267.
USDCHF is approaching the limit of its growth opportunities, which are limited by a triangle on D1. As the main scenario, today we will consider the rebound of the franc to the downside, to the levels of 0.9714 and 0.9701, with a potential movement to 0.9682. If the pair’s intentions to break through the upper border of the triangle appear serious, then after the level of 0.9741 we will begin to consider possible targets near the levels of 0.9761 and 0.9782.
USDJPY has formed an upward channel on H4 and is now trying to break through its lower border towards the downside. If the attempt succeeds, then after the level of 106.71 we will begin to look for possible targets near the levels of 106.55 and 106.35. In case of a price rebound above the level of 107.03, we can consider the growth scenario to the levels of 107.22 and 107.48.
AUDUSD formed two channels: ascending on D1 and descending on H4. And the current price of 0.6440 is the lower border of both channels, therefore, as the main scenario for today, we will consider the pair’s growth in the direction of the levels of 0.6464 and 0.6500, followed by a downward correction. In case of a strong impulse to fall, after the level of 0.6411 we will begin to consider the scenario of a decline to the levels of 0.6392 and 0.6374, with a potential movement to 0.6351.
USDRUB yesterday rose moderately on expectations of a decline in oil prices and outlined the lower limit of its possible fluctuations, the level of 73.06. The upper possible border we’ll determine at levels 74.50-74.80.
USDCAD did not use all its growth potential, and the pair can easily reach the upper border of the channel at D1 – level 1.4166. However, the current price near a strong level of 1.4100 gives us reason today to plan a correction of the Canadian dollar downwards to the levels of 1.4069 and 1.4033, and this will be the main expected scenario.
Gold is trading near the upper borders of two triangles at once: on H4 and on D1, therefore the growth opportunities of the instrument are limited by the level of 1719.00, from which we will plan the bounce downwards to the levels of 1711.00 and 1705.00. If the price finds support for a break through the level of 1719.00 upwards, then we will consider possible targets near the levels of 1727.00 and 1730.00.
Brent during this week found an equilibrium near the upper border of the channel on D1. The range between the levels of 29.22 and 30.80 is relevant today. Therefore, we will focus on it. If the price goes out of the range downwards, the possible targets will be levels 28.43 and 27.63. If the price goes out of the range upwards, the possible targets will be levels 31.60 and 32.39.
Bitcoin continues to work out the upward channel on D1 and is now trading in the range between 9444.00 and 9318.00. If the pair leaves the range upwards, possible targets will be the levels of 9695.00 and 9946.00. If the pair leaves the range downwards, the possible target levels will be 9067.00 and 8912.00.
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Forecasts should not be considered as guidance for trading.