EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.2178; after expanding the range up to 1.2214 and rebounding from this level, it is falling towards 1.2144. Today, the pair may break the latter level and then continue trading downwards with the target at 1.2090. After that, the instrument may start a new correction towards 1.2170.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.4111 and forming a new consolidation range around this level, GBPUSD is expected to continue falling 1.4040. Later, the market may correct to return to 1.4111 and form one more ascending structure with the target at 1.4000.

USDRUB, “US Dollar vs Russian Ruble”

After finishing the descending wave at 72.00, USDRUB is expected to correct towards 72.55. After that, the instrument may resume trading downwards with the target at 71.71 or even reach 71.50.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 109.60, USDJPY is consolidating around this level. Today, the pair may grow to break 110.00 and then form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

After reaching the downside border of the range at 0.8927 and rebounding from this level to the upside, USDCHF is growing. Possibly, today the pair may reach the upside border of the range at 0.9050. Later, the market may break this level and then continue trading upwards with the short-term target at 0.9174.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending structure at 0.7725; right now, it is consolidating around this level. Today, the pair may break this range to the downside and continue trading downwards with the first target at 0.7686.

BRENT

Brent has expanded the range up to 72.61. Possibly, today the asset may correct towards 70.00 and then resume trading upwards with the short-term target at 75.55. After that, the instrument may start a new correction to reach 70.00.

XAUUSD, “Gold vs US Dollar”

Gold is falling towards 1852.64. Possibly, the metal may break this level to the downside and form a new descending structure with the short-term target at 1802.22.

S&P 500

The S&P index is still consolidating around 4222.0 without any particular direction. Possibly, today the asset may break this range to the upside and resume growing towards 4275.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4303.3.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCH has rebounded from 1/8, thus indicating a possible ascending correction. In this case, the price is expected to break 2/8 and then continue growing to reach the resistance at 3/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may fall towards 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 the ascending tendency.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is still trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and continue growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and correct towards 3/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 6/8 from the H4 chart.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7185; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7195 and then resume moving downwards to reach 0.7070. Another signal in favor of a 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 0.7225. In this case, the pair may continue growing towards 0.7315.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 133.23; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 133.40 and then resume moving downwards to reach 132.30. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 133.65. In this case, the pair may continue growing towards 134.55. To confirm further decline, the asset must break the neckline of the Head & Shoulders reversal pattern and fix below 132.55.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2170; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2185 and then resume moving downwards to reach 1.2065. Another signal in favor of a 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 1.2220. In this case, the pair may continue growing towards 1.2305.

EURUSD is slightly rising on Thursday afternoon; market expectations are against the “greenback”.

The major currency pair is growing a little bit on Thursday and it seems like investors will need more strengths during the day. The current quote for the instrument is 1.2170.

One thing is that the US 10-year bond yield is against the USD. Another thing, which supports the European currency, is market expectations because investors believe that the ECB meeting scheduled for today will be positive and optimistic.

The European regulator is highly likely to keep its monetary policy intact but may give a positive estimate to the economic recovery process in the Euro Area and revise its expectations for the GDP and inflation upwards.

One more thing worth paying attention to is the press conference by Christine Lagarde, the ECB Governor.

The USA won’t remain in the shade as well. In the evening, the country is planning to report on the CPI and the Core CPI, which may show 0.4% m/m and 0.5% m/m in May after being 0.8% m/m and 0.9% m/m respectively the month before. Strong data may help those who put pressure on the Fed and try to make the regulator close the stimulus programs ahead of the schedule. At the same time, there are no reasons right now for an inflation boost.

Also, the USA is scheduled to report on the Unemployment Claims, which is expected to be 370K after showing 385K the week before. It might be a great support for the USD as well.

Brent

In the H4 chart, after breaking the high at 71.07, Brent was growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 72.05 and 73.33 respectively. However, this movement was followed by a divergence on MACD, which made the price start a new correction to the downside. If the instrument breaks the fractal support at 64.50, it may continue falling to reach 60.46.

The H1 chart shows a more detailed structure of the current correction. The correctional targets may be 23.6%, 38.2%, 50.0%, and 61.8% fibo at 70.71, 69.52, 68.57, and 67.60 respectively. The local resistance is the high at 72.63.

Dow Jones

As we can see in the H4 chart, the situation hasn’t changed much over the last week. After breaking 76.0% fibo and attempting to reach the high at 35102.0 twice, Dow Jones hasn’t been successful in breaking it. If the price finally succeeds, it may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 35786.0 and 36210.0 respectively. However, an alternative scenario implies a rebound from the high and a new mid-term correctional downtrend to break the low at 33295.0 and then mid-term 23.6% and 38.2% fibo at 32970.0 and 31651.0 respectively.

The H1 chart shows potential downside targets after a local divergence on MACD and double test of the high at 34858.0. At the moment, the index is testing 23.6% fibo. The next downside targets may be 38.2%, 50.0%, 61.8%, and 76.0% fibo at 34260.0, 34076.0, 33893.0, and 33670.0 respectively. A breakout of the current high will complete the correction.

Despite the weak “greenback”, GBPUSD is retreating.

The British Pound is falling against the USD on Thursday afternoon. The current quote for the instrument is 1.4086.

Investors are still monitoring the possibility of social restriction removal due to the pandemic in the United Kingdom but don’t seem to believe in it much.

Another round of negotiations between the United Kingdom and the European Union in the Northern Ireland issue ended with nothing. London, as usual, is holding its ground, the EU is running out of patience, and everything is going in circles again. The alliance has leverage over the UK, for example, to optimize commercial tariffs and make them equal to tariffs of third-party suppliers. It would be a serious jab at the British business but the EU is speaking of it theoretically because any trading processes and cooperation work both ways.

In addition to that, the European Union may stop cooperation with the United Kingdom on several other aspects. These negotiations are very exhausting and the alliance may really take such unpopular measures just to drive from the dead-lock.

The nearest interesting statistics from the United Kingdom will be available on Friday. The country is scheduled to report on the GDP, the Industrial Production, the Manufacturing Production, and the Construction Output for April. Some of them may help the Pound stop falling.

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.2178. Today, the pair may fall to break 1.2144 and then continue trading downwards with the target at 1.2090. After that, the instrument may start a new correction towards 1.2170.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating 1.4155; right now, it is falling towards 1.4104. Possibly, today the pair may break the latter level and continue falling to reach 1.4014. Later, the market may form one more ascending structure return to 1.4104.

USDRUB, “US Dollar vs Russian Ruble”

After finishing the descending wave at 72.35, USDRUB is expected to correct towards 73.05. After that, the instrument may resume trading downwards with the target at 72.00 or even reach 71.60.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.44; right now, it is growing towards 109.85. Today, the pair may break the latter level and form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating; right now, it is trading close to the downside border at 0.8951. Possibly, today the pair may resume growing towards the upside border of the range at 0.9010. Later, the market may break this level and then continue trading upwards with the short-term target at 0.9107.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7747. Today, the pair may form a new descending structure towards the downside border of the range at 0.7701. After that, the instrument may break this level and continue trading downwards with the target at 0.7641.

BRENT

Brent is trading to break 72.20 and may later continue trading upwards with the target at 75.55. After that, the instrument may start a new correction to reach 70.00.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1883.57 along with the correction towards 1895.00, thus forming a new consolidation range between these two levels. Today, the metal may form a new descending structure to break 1883.00 and then continue trading downwards with the target at 1848.26.

S&P 500

The S&P index is still consolidating around 4222.0. Possibly, today the asset may break this range to the upside and resume growing towards 4272.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4300.0.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 4/8 and then resume growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

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

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD continues trading downwards. In this case, the price is expected to break 3/8 and then continue falling towards the closest support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow to reach the resistance at 5/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2109; 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 1.2075 and then resume moving upwards to reach 1.2210. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2035. In this case, the pair may continue falling towards 1.1945. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.2135.

NZDJPY, “New Zealand Dollar vs Japanese Yen”

NZDJPY is trading at 78.78; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 79.05 and then resume moving downwards to reach 77.95. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 79.45. In this case, the pair may continue growing towards 80.35.

EURAUD, “Euro vs Australian Dollar”

EURAUD is trading at 1.5730; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.5765 and then resume moving downwards to reach 1.5610. Another signal in favor of a 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 1.5805. In this case, the pair may continue growing towards 1.5915.