USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.4044; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4015 and then resume moving upwards to reach 1.4175. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3945. In this case, the pair may continue falling towards 1.3865.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.16; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 106.85 and then resume moving upwards to reach 108.15. Another signal to confirm further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 106.25. In this case, the pair may continue falling towards 105.35.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6025; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6055 and then resume moving downwards to reach 0.5945. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6125. In this case, the pair may continue growing towards 0.6205.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after testing the support level, XAUUSD has formed a Doji reversal pattern. At the moment, the pair is reversing. In this case, the price may finish the correction and then resume growing with the target at 1737.85. At the same time, the instrument may choose an opposite scenario and return to 1684.00.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, NZDUSD is testing the rising channel’s downside border and forming a reversal pattern. In case the pair succeeds and starts reversing, it may rebound from the support level and resume growing towards 0.6140. Still, one shouldn’t exclude another scenario, which says that the instrument may continue the descending tendency to reach 0.5959.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern, GBPUSD is falling towards the support area. At the moment, the pair is expected to reverse and form a slight correction, which may later be followed by a new descending impulse. In this case, the downside target may be at 1.2208. However, there is another scenario, which implies that the instrument may return to 1.2390.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after leaving the “oversold area”, USDJPY is trading between 1/8 and 2/8. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 0/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, after breaking 3/8, USDCAD is consolidating. In this case, the pair is expected to continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may move downwards to reach the support at 2/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

After extending the ascending structure towards 1.0880 and then finishing the descending impulse at 1.0850, EURUSD has formed a new consolidation range around the latter level. Possibly, the pair may break the range to the downside and then resume trading downwards with the short-term target at 1.0817.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.2308 to the downside, GBPUSD is still falling to reach 1.2239. After that, the instrument may correct to test 1.2308 from below and then continue trading inside the downtrend with the target at 1.2146.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading to break 73.00 to the downside. Possibly, the pair may form one more ascending structure towards 73.50 to test it from below. Later, the market may break the downside border of the current range and then resume trading inside the downtrend with the target at 72.22.

USDJPY, “US Dollar vs Japanese Yen”

After breaking 107.34 to the downside, USDJPY is expected to reach 107.03. After that, the instrument may correct to return to 107.354 and then form a new descending structure with the first target at 106.95.

USDCHF, “US Dollar vs Swiss Franc”

After extending the descending wave towards 0.9666, USDCHF has formed a new consolidation range around 0.9696. Possibly, today the pair may break the range to the upside and grow with the target at 0.9720. Later, the market may correct to return to 0.9696.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the first descending impulse at 0.6464, AUDUSD is consolidating around this level. According to the main scenario, the price is expected to break this range to the downside and then start another decline with the target at 0.6393.

BRENT

After breaking its consolidation range to the downside, Brent is expected to fall towards 29.30. Today, the pair may break this level as well and then continue the correction to reach 27.00. Later, the market may start forming the fifth ascending wave with the target at 38.20.

XAUUSD, “Gold vs US Dollar”

After completing the correction at 1700.00, Gold is expected to trade upwards and reach 1712.00. After breaking this level to the upside, the market may continue growing with the target at 1723.20.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 8800.00. Possibly, today the pair may trade upwards to reach 9450.00 and then form a new descending structure to return to 8800.00. After that, the instrument may start another growth with the target at 9900.00.

S&P 500

After breaking 2893.3 to the downside, the Index has reached 2835.0. Today, the pair may return to 2893.2 and test it from below. Later, the market may form a new descending structure to break 2826.5 and then continue trading downwards with the target at 2750.5.

GBPUSD, “Great Britain Pound vs US Dollar”

As we see in the H4 chart, GBPUSD is steadily trading downwards within another correctional wave with the targets at 38.2%, 50.0%, and 61.8% fibo at 1.2175, 1.2030, and 1.1881 respectively. After completing this correctional downtrend, the pair is expected to start a new rising wave or impulse to break the high at 1.2648. Later, the market may form a long-term rising wave to reach 50.0% fibo at 1.2892.

The H1 chart shows the current descending wave towards 38.2% fibo at 1.2175. At the same time, there might be convergence on MACD, which may indicate a possible pullback towards 23.6% fibo after the price reaches its target.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the daily chart, after breaking the previous low, EURJPY has returned to it once again; this movement may be considered as an internal pullback within the descending wave but this pullback may transform into a correction in the form of the sideways channel. The local target of this pullback is 76.0% fibo at 117.54, which is the current resistance. The key downside targets remain inside the post-correctional extension area between 138.2% and 161.8% fibo at 113.20 and 111.55 respectively.

The H4 chart shows more detailed structure of the current pullback after the convergence. If the pair fails to reach the resistance at 117.54, the instrument may form a new descending impulse towards the post-correctional extension area between 138.2% and 161.8% fibo at 113.20 and 111.55 respectively.