EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at +1/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards 4/8.

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

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after breaking 8/8 to the downside, GBPUSD is no longer trading within the “overbought area”. In this case, the asset is expected to test 7/8, break it, and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside again. After that, the instrument may continue trading upwards to reach the resistance at +2/8.

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

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2132 along with the correction towards 1.2185, EURUSD is consolidating below the latter level. Possibly, the pair may continue this decline to reach 1.2704. Later, the market may correct to test 1.2155 from below and then resume trading downwards with the target at 1.2050.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4108 along with the correction towards 1.4179, GBPUSD is expected to continue falling towards 1.4034. Later, the market may correct to test 1.4100 from below and then form a new descending structure with the target at 1.3960.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 72.72. After that, the instrument may start another correction to reach 73.28 and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 110.30 along with the correction towards 109.44, USDJPY is expected to form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correction at 0.8982, USDCHF is consolidating above this level. Possibly, the pair may resume growing to break 0.9036 and then continue trading upwards with the short-term target at 0.9090.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the correction at 0.7735. Today, the pair may form a new descending structure towards 0.7627 and then start another correction to reach 0.7685. After that, the instrument may resume trading downwards with the target at 0.7600.

BRENT

Brent has completed the ascending wave at 72.08. Possibly, today the asset may correct to reach 70.20 and then form one more ascending structure with the short-term target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the correctional wave at 1893.30. Today, the metal may corm a new descending structure to break 1869.20 and then continue trading downwards to reach 1848.26. Later, the market may start another growth with the target at 1880.00.

S&P 500

The S&P index is moving upwards. Possibly, today the asset may break 4233.3 and then continue growing with the target at 4273.1. After that, the instrument may correct downwards to test 4168.3 from above and then form one more ascending structure to reach 4300.0.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4117; 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 1.4155 and then resume moving downwards to reach 1.3995. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.4210. In this case, the pair may continue growing towards 1.4305.

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 27.50; 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 27.75 and then resume moving downwards to reach 26.45. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 28.25. In this case, the pair may continue growing towards 29.35.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.8996; 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 0.8985 and then resume moving upwards to reach 0.9095. Another signal in favor of a 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 0.8965. In this case, the pair may continue falling towards 0.8875. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.9010.

EURUSD plunged last week and this movement may continue through this week as well.

The major currency pair remains rather weak on Monday although the sales are not so big. The current quote for the instrument is 1.2155.

The statistics published by the USA last Friday were very interesting. For example, the Unemployment Rate improved up to 5.8% in May after being 6.1% in April, which is better than expected. The Non-Farm Employment Change was 559K after being 278K the month before. The actual reading is rather good despite being worse than expected, 645K. The Average Hourly Earnings added 0.5% m/m in May after expanding by 0.7% m/m in the previous month and against the expected reading of 0.2% m/m.

The Factory Orders dropped 0.6% m/m in April after adding 1.4% m/m in March. It’s a usual correction and the indicator may go up in May.

This week is going to be busy: the European Central Bank is scheduled to have another meeting, make some monetary decisions, and comment on the region’s economic state.

The benchmark interest rate is expected to remain at zero as the time to revise it hasn’t come yet. However, the regulator’s comments on the economic state and outlook might be pretty positive.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after an attempt to test 61.8% fibo at 1922.50 and a divergence on MACD, the asset has formed a correctional descending wave. Possibly, after completing a short-term pullback, the pair may form another descending impulse. At the same time, the current rising movement may transform into a proper ascending wave to break 61.8% fibo at 1922.50 and then reach 76.0% fibo at 1979.00. The key support remains the low at 1676.78.

The H1 chart shows a more detailed structure of the current correction, which may be considered as an internal pullback within the first descending correctional downtrend towards 23.6% fibo. In case of a new descending wave, its target will be 38.2% fibo at 1825.38. on the other hand, if the price breaks the high at 1916.52, the correction will be over.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after testing 23.6% fibo at 0.9058, the current correctional uptrend hasn’t been able to transform into a proper rising wave. If USDCHF breaks this level, the next target may be 38.2%, 50.0%, and 61.8% fibo at 0.9139, 0.9202, and 0.9267 respectively. The support is the low at 0.8930.

The H1 chart shows more detailed dynamics of the current decline, which has already tested 50.0% fibo and may continue towards 61.8% and 76.0% fibo at 0.8978 and 0.8960 respectively. If the asset breaks these levels, it may continue falling to reach the post-correctional extension area between 138.2% and 161.8% fibo at 0.8883 and 0.8854 respectively. The resistance is the high at 0.9054.

Brent

As see can see in the H4 chart, Brent is trading above the 200-day Moving Average, thus indicating an ascending tendency. However, the asset has risen pretty much recently and such growths are usually followed by descending corrections and then new waves to the upside. That’s why, the pair is expected to test 5/8, rebound from it, and then resume falling towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may continue trading upwards and reach the resistance at 7/8.

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

S&P 500

In the H4 chart, the S&P Index is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach the support at 5/8.

As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume growing only after breaking 7/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2150 and breaking it to the downside, EURUSD is expected to continue this decline towards 1.2084. Later, the market may return to 1.2150 to test it from below and then resume trading downwards with the target at 1.2050.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4110 and breaking this level to the downside, GBPUSD is expected to continue falling towards 1.4002. Later, the market may correct to test 1.4100 from below and then form a new descending structure with the target at 1.3960.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 73.28. Possibly, the pair may continue falling towards 72.56. After that, the instrument may start another correction to reach 73.28 and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 110.30, USDJPY is consolidating below this level. Today, the pair may correct towards 109.95 and then form one more ascending structure with the target at 110.45.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9037, USDCHF is consolidating around this level and forming an upside continuation pattern. Later, the market may continue trading upwards with the short-term target at 0.9099.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.7685 and breaking it to the downside, AUDUSD is expected to continue falling and reach 0.7614. After that, the instrument may correct to test 0.7685 from below and then resume trading downwards with the target at 0.7600.

BRENT

Brent has completed the ascending wave at 71.77. Possibly, today the asset may correct to reach 70.00 and then form one more ascending structure with the short-term target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1855.32. Today, the metal may correct towards 1882.10 and then resume trading downwards with the first target at 1848.28.

S&P 500

The S&P index is still consolidating around 4168.3; it has tested this level from above. Possibly, the asset may expand the range towards 4272.1.

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2105; 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 1.2135 and then resume moving downwards to reach 1.1990. Another signal in favor of a further downtrend will be a rebound from the descending channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2235. In this case, the pair may continue growing towards 1.2325.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2122; 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 1.2100 and then resume moving upwards to reach 1.2210. Another signal in favor of a further uptrend will be a rebound from the upside 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 1.2030. In this case, the pair may continue falling towards 1.1945.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7146; 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 0.7190 and then resume moving downwards to reach 0.7035. 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 0.7285. In this case, the pair may continue growing towards 0.7375.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the correction continues. After testing the resistance area, the pair has formed several reversal patterns, including Harami. At the moment, EURUSD may reverse and start a new decline towards the support level. In this case, the downside target may be at 1.2061. However, an alternative scenario implies that the price may grow to reach 1.2175 without testing the support level.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Shooting Star, not far from the resistance area. At the moment, the asset may reverse and form another correctional impulse. In this case, the correctional target is the support level at 109.90. At the same time, an opposite scenario implies that the price may continue growing towards 110.55 without reversing and correcting.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming several reversal patterns, such as Hammer and Inverted Hammer, close to the support area, EURGBP may reverse and grow to reach the resistance level. In this case, the upside target may be at 0.8630. Later, the market may rebound from this level and resume falling. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8565 without reversing and correcting.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the daily chart, AUDUSD is starting a new correctional downtrend after a divergence on MACD towards 23.6%, 38.2%, and 50.0% fibo at 0.7415, 0.7053, and 0.6757 respectively. After completing this pullback, the instrument may resume growing to break the high at 0.8007 and then reach the long-term 50.0% fibo at 0.8292.

The H4 chart of AUDUSD shows a more detailed structure of the current descending correction, which has already broken 61.8% fibo and may continue towards 76.0% fibo at 0.7618. However, the key downside target is the low at 0.7532. The resistance is the local high at 0.7891.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, the pair is forming the first rising impulse after updating the low and a convergence on MACD. At the moment, the price is heading towards 23.6% fibo, a breakout of which may lead to a further uptrend to reach 38.2%, 50.0%, and 61.8% fibo at 1.2254, 1.2331, and 1.2407 respectively. The support is the low at 1.2007.

The H1 chart shows a steady rising impulse towards 23.6% fibo at 1.2160.