EURUSD started the trading week quite smoothly, indicating its current range between the levels of 1.0907 and 1.0885. And at the beginning of the European trading session we will focus on them. If the price goes out of the range upwards, then the nearest target levels may be 1.0934 and 1.0946. If the price goes out of the range towards the downside, then the levels of 1.0870 and 1.0853 may become the targets of today’s trading.
GBPUSD is trading in a downtrend, working out the upper border of the triangle on D1 for several days in a row. Therefore, the main expected scenario today will be a continuation of the downward movement. The confirmation will be a breaking through the level of 1.2156 in the direction of lowering, after which we will look for possible targets near the levels of 1.2122 and 1.2100, with a potential of decline to 1.2072. However, we will not lose sight of the fact, that the British pound does not move far from the upper border of the channel, which may indicate preparations for a trend change. That is, the backup plan will be the growth of the pair, obviously, which we will begin to consider after the breaking through the level of 1.2206 upward. And the possible target levels will be 1.2248 and 1.2290.
USDCHF does not yet give obvious signals on any of the higher timeframes. Only an attempt to exit the triangle on H4 demonstrates a possible start of the price movement downward, but this signal is very weak. Today we will act with the frank in standard way, indicating the current range and possible targets, when the price goes out of the range in one direction or another. So, the current range is defined between the levels of 0.9706 and 0.9729. If the price goes out of the range towards the downside, the possible targets will be the levels of 0.9688 and 0.9675, after which the potential for a decline to 0.9653 will be opened. If the price goes out of the range upwards, then we will look for possible targets near the levels of 0.9749 and 0.9769.
USDJPY during the night trading session showed intentions to grow to the level of 108.00, to test it once again. So far the pair has been stopped at 107.78, however, with the start of European trading, the upward movement to 108.00 may resume, which may open up potential for further growth to the levels of 108.18 and 108.27. If European traders do not support the upward movement, we will look for possible targets near the levels of 107.40 and 107.18.
AUDUSD at the end of last week could not gain a foothold below the level of 0.6500 and rebounded to the current level of 0.6534. Today we will focus on the newly formed triangle on H1 with borders near the levels of 0.6523 and 0.6546. If the price breaks through the upper border upward, then the possible target levels today will be 0.6569 and 0.6592. If the price breaks through the lower border towards the downside, then we will look for targets near the levels of 0.6501 and 0.6472.
USDRUB at the end of last week rose slightly because of cheaper oil and closed near the level of 71.70. Today we will plan a trading range from 70.75 below to 72.25 above.
USDCAD is being gradually clamped within the boundaries of the triangle on H1, and today, as the main scenario, we will consider the breaking through the lower border near the level of 1.3973 downward. In this case, the possible targets will be the levels of 1.3949 and 1.3926. If the price can gain a foothold above the level of 1.4001, then after the level of 1.4011 we will begin to consider further growth with possible targets around 1.4030 and 1.4049.
Gold is trading near the lower border of the ascending channel on D1, and the instrument has not yet managed to break through it. Therefore, today, as the main scenario, we will expect a price rebound from the lower border and a growth towards the levels of 1733.00 and 1737.00, with the potential movement to the level of 1746.00. In case of a breaking through the lower border of the channel, we will envisage a scenario for a decline to the levels of 1720.00 and 1717.00.
Brent is gradually turning in the direction of decline, and today we will focus on this scenario. From the current price of 35.73 the instrument still has a space for slight growth to the lower border of the triangle on D1, to the level of 36.40, after which we will expect a decline to the levels of 34.96 and 34.00. If European trading returns the price to the triangle, possible targets would be levels 37.12 and 37.84. This will be a backup plan.
Bitcoin is trying to go into a full decline, gaining a foothold under the triangle on D1. Today the price has already indicated its lower border near the level of 8654.00, so we will focus on this nearest target below. If it is achieved again, then the next target may be the level of 8525.00. For correction upward from the current price of 8805.00 we will consider levels 8950.00 and 9155.00 as possible targets.
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Forecasts should not be considered as guidance for trading.