EURUSD, “Euro vs US Dollar”
The EURUSD pair has completed a growth wave, reaching a local target of 1.0875. Today a correction structure targeting 1.0839 (testing from above) is expected. After the correction, an upward movement towards 1.0877 could follow, with the price subsequently declining to the first target of 1.0840.
GBPUSD, “Great Britain Pound vs US Dollar”
The GBPUSD pair has completed a growth wave, reaching 1.2733. Today a correction towards 1.2679 could occur. After the correction is over, a growth structure to 1.2741 could develop, followed by a decline to 1.2670. This is the first target.
USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair remains in a consolidation phase around 150.35. Today a downward breakout towards 149.55 could occur. Next, the price might rise to 150.77, from where the trend could continue to 150.88. A breakout of this level will open the potential for a movement towards a local target of 151.70.
USDCHF, “US Dollar vs Swiss Franc”
The USDCHF pair is currently in a consolidation phase around 0.8840. With a downward breakout, the price could decline to 0.8787. With an upward breakout, the trend might continue to a local target of 0.8933.
AUDUSD, “Australian Dollar vs US Dollar”
The AUDUSD pair has completed a decline wave, reaching 0.6477. Today a corrective movement to 0.6522 could follow. Once the correction is over, another decline wave could develop, targeting 0.6464.
BRENT
Brent continues developing a correction today, with the target at 81.18. After the correction is over, upward momentum to 85.85 is expected. This is a local target. Next, the price could undergo a correction to 82.70 and subsequently rise to 86.86.
XAUUSD, “Gold vs US Dollar”
Gold has completed a growth wave, reaching 2141.00. Today the market is forming a consolidation range below this level. A downward breakout and a correction towards 2066.00 are expected. After the correction is over, a new growth wave is expected to start, aiming for 2180.00 as a local target.
S&P 500
The stock index has completed a decline wave to 5058.0. Today a correction towards 5102.0 (testing from below) could develop. Practically, a wide consolidation range is forming around this level, which could expand to 5170.0. A downward breakout of this range will open the potential for a decline to 4959.0. This is the first target.
