EURUSD is under pressure and is waiting for the moment to start a full decline. This is what the market looks like at the moment. Nevertheless, repeated unsuccessful attempts to break through the level of 1.0770 downwards indicate, that the pair is not yet ready for this. Therefore, today we will consider the growth of the European currency, as the main scenario. The current price near the level of 1.0806 can give a good impulse to move to the upper border of the channel on D1. Thus, possible targets at the top would be levels 1.0847 and 1.0872. Of course, we will not exclude the possibility of a decline of the pair, and after the level of 1.0795 we will begin to look for possible targets near the levels of 1.0778-1.0761, with a potential movement to 1.0744.
GBPUSD yesterday could not fall below 1.2165 and formed a new downward channel on H4. The pair does not have much space for growth: from the current level of 1.2236 to the upper border of the channel near the level of 1.2264, after which we will plan a correction downwards. A breaking through the levels of 1.2264-1.2278 in the upward direction is not too likely, but we will not exclude this option. Possible targets may be levels 1.2295 and 1.2313. However, the main scenario today provides for a decline of the British pound to the levels of 1.2200 and 1.2179, after which the potential for a decline to 1.2154 and 1.2130 will be opened.
USDCHF is consolidating in a narrow range between the levels of 0.9741 and 0.9720, which is also the lower border of a small triangle on H4. As the main scenario, today we will consider a decline of the pair, and after the level of 0.9720 we will look for possible targets around 0.9708 and 0.9689, with a potential movement to 0.9670. In case of movement to the upper border of the triangle, after the level of 0.9741 we will envisage possible targets near the levels of 0.9758-0.9772-0.9792.
USDJPY worked out the growth scenario yesterday and reached the upper target levels. However, the growth potential to the upper border of the channel on D1 was not fully realized and the level of 107.65 may well become the point for turning back of the Japanese yen. If the upper border of the channel is broken through, then after the level of 107.74 we will begin to look for possible target levels around 107.94 and 108.14. Also we will not forget that today the pair has already managed to determine a narrow range with a lower border at the level of 107.19, therefore, in case of a downward correction, we will consider possible decline targets near the levels of 107.01 and 106.77.
AUDUSD showed moderate growth yesterday to one of the target levels, but the price does not move far from the lower border of the upward channel on D1. And this gives us the opportunity to plan today a decline of the Australian dollar from the current price of 0.6465 to the level of 0.6439, after which we will begin to look for possible targets below the channel, near the levels of 0.6411 and 0.6392, with a potential of movement to 0.6374. Nevertheless, we will not forget that we are considering an upward channel, so the probability of continued growth of the pair is still high. After the level of 0.6479, we will look for possible targets around 0.6500 and 0.6524.
USDRUB stayed within the planned borders yesterday and today we will plan a moderate decline of the pair from the current level of 73.98 towards the levels of 73.35-73.20, with the potential of a decline to 72.77. And we will determine a possible upper limit of fluctuations at yesterday’s maximum – 74.50.
USDCAD has worked out a scenario of decline to target levels. A breaking through the lower border of the channel at H4 gives us a reason to plan a further decline of the pair. The current range of fluctuations between the levels of 1.4033 and 1.4057 will serve as an indicator today. If the Canadian dollar exits the range downwards, the possible targets would be levels 1.4008 and 1.3978. If the pair exits the range upwards, the possible target levels will be 1.4082 and 1.4106.
Gold reached the upper target levels and came close to 3-week highs. Now the price has found an equilibrium near the level of 1730.00, and today we will consider a possible correction of the instrument to the levels of 1723.00 and 1719.00. Also, we will not disregard yesterday’s maximum near the level of 1734.00. If the price gets a foothold above this level, then we will plan targets near 1738.00 and 1742.00.
Brent finally broke through the upper border of the channel on D1 and formed a figure that is vaguely reminiscent of a triangle. We will focus on it today, considering it as a possible support for further upward movement, from the current price of 31.34 to the levels of 32.39 and 33.18. However, a breaking through the level of 30.80 in the downward direction can be estimated as a signal of the beginning of movement to the levels of 30.01 and 29.22.
Bitcoin is still trading inside the upward channel on D1 and yesterday reached all the upper target levels. The short-term outlook for today is a price decline from the current level of 9747.00 to the levels of 9458.00 and 9090.00. However, after the level of 9826.00, we will begin to consider the possibility of further growth to the levels of 10072.00 and 10194.00.
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Forecasts should not be considered as guidance for trading.