Forex Technical Analysis & Forecast 16.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is moving downwards. Possibly, today the price may reach 1.1812 and then grow towards 1.1875. Later, market may continue its decline with the target at 1.1760.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating around 1.3535. Today, the price may reach 1.3440 and then grow towards 1.3580, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3750; if to the downside – resume falling inside the downtrend with the target at 1.3355.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating. If the instrument breaks this range to the downside, the market may start another correction to reach 0.9850; if to the upside – resume growing with the target at 1.0110.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has broken 110.00 upwards and continues extending this structure. Possibly, today the price may fall to test 110.00 from above and then grow to reach 110.66. After that, the instrument may start another decline to return to 110.00 and then resume growing to reach 111.11.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD continues moving downwards. Possibly, the price may reach 0.7425 and then grow towards 0.7494. Later, the market may continue trading downwards with the target at 0.7320.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is growing towards 62.88. After that, the instrument may resume moving downwards to reach the short-term target at 58.90.
XAUUSD, “Gold vs US Dollar”
Gold has reached the target of the descending wave at 1292.00. Today, the price may form another consolidation range. If later the instrument breaks this range to the upside, the market may reach 1303.00; if to the downside – resume falling inside the downtrend with the target at 1285.00.
BRENT
Brent has reached the short-term upside target at 79.50 upwards. Possibly, today the price may start another correction to reach 78.00 at least or even test 77.00 from above. Later, the market may resume growing with the target at 80.20.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.