EURUSD turned downwards, having used up all its growth potential. A new attempt to gain a foothold above the level of 1.1000 was unsuccessful, and today we will consider a short-term triangle on H4, from which the pair exited downward. From the current price of 1.0934 the main expected scenario for today will be testing the level of 1.0900 from above, and if the European currency manages to gain a foothold below, then the potential for a decline to the levels of 1.0870 and 1.0853 will be opened. In case of resumption of the upward movement, we will determine the levels 1.0970 and 1.1006 as possible targets.
GBPUSD is technically ready to begin the decline. The pair leaves the triangle on H4 in the direction of lowering and is also located near the upper border of the triangle on D1. Therefore, from the current price of 1.2206 today we will look for possible targets near the levels of 1.2156 and 1.2122. This will be the main scenario. As a backup plan, let’s pay attention to the level of 1.2227: if the price consolidates above, then we will consider possible target levels around 1.2269 and 1.2290.
USDCHF has gained a foothold above the level of 0.9700, and today we will consider the possibility of further growth from the current price of 0.9719 to the upper border of the triangle at D1 near the level of 0.9749. We will begin to consider further growth of the pair after the level of 0.9759, and in this case the possible targets can be the levels of 0.9780 and 0.9800. Of course, we will not exclude the possibility of a decline to the level of 0.9700, this will be a backup plan with possible targets near the levels of 0.9680-0.9670.
USDJPY leaves the upward channel on H4, and a breaking through the lower border can be a signal for a medium-term decline from the current price of 107.45 to levels 107.28 and 107.09, after which we can expect attempts to break through the level of 107.00 towards the downside. In case the price returns to the channel borders on H4, we will consider possible targets near the levels 107.68 and 107.88.
AUDUSD demonstrates its intentions to begin the decline, but this may be a false impression. The pair has already worked out a breaking through the lower borders of the triangles on H1 and H4, and from the current price of 0.6541 the following targets logically look at the levels of 0.6508 and 0.6480. However, with the beginning of the European trading session the picture may change and after a possible growth above the level of 0.6569 we will begin to look for upper targets around 0.6604 and 0.6616.
USDRUB yesterday tested the 3-month low at 70.60, showing to market participants its range at the current oil price. However, today the pair may grow to 72.04-72.50 at the opening of trading. We will plan the level of 73.00 as the upper border, and the lower border is planned to be at the level of 71.42.
USDCAD left the triangles on H1 and on H4 upward and is now trading near the level of 1.4000. Further movement of the pair upwards is not restrained by anything, and after level 1.4011 we will begin to consider possible targets near levels 1.4040 and 1.4064. However, let’s not forget that the level of 1.4000 often became a price reversal point, so we will envisage possible lower targets near the levels of 1.3966 and 1.3949.
Gold rolls farther and farther away from its upper targets amid a strong US dollar. Now the instrument is trading in the range between the levels of 1723.00 and 1730.00, so we will focus on it. If the price goes out of the range upwards, then the possible targets would be levels 1737.00 and 1742.00. If the price goes out of the range downwards, then the possible target levels will be 1717.00 and 1711.00.
Brent fell at night to the levels of the beginning of this week, and the current price of 34.34 interrupted the euphoria of traders about stable growth of the instrument. As the main scenario today, we will consider a further decline of prices to the levels of 33.52-32.80-32.08. If the start of European trading stops the decline, then after the level of 35.00 we will consider the possibility of growth to 35.68-36.40.
Bitcoin has formed a new triangle on D1 with a lower border near the level of 9000.00, where the price is now. Therefore, as the main scenario today, we consider the correction of the instrument in the direction of growth with possible targets near 9155.00 and 9327.00. If the price consolidates below the triangle, then after the level of 8867.00 we will begin to look for possible targets for the decline near the levels of 8725.00 and 8583.00.
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Forecasts should not be considered as guidance for trading.