Forex Technical Analysis & Forecast 28.01.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.1348 and breaking the descending channel, EURUSD has formed a continuation pattern near the broken channel and extended the wave twice by reaching 1.1425. Possibly, today the pair may form a new consolidation range near the highs and expand it up to 1.1433. Later, the market may form a new descending structure towards 1.1398. If the instrument breaks this range to the downside, the price may continue trading inside the downtrend with the first target at 1.1348.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken 1.3138 upwards and may continue growing towards 1.3218. Today, the pair may reach this level and start a new decline to return to 1.3138. After that, the instrument may resume falling towards 1.3016.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken 0.9939 downwards and may continue falling towards 0.9907 (an alternative scenario). Possibly, the pair may continue the correction to reach 0.9890. Later, the market may f continue trading inside the uptrend with the target at 0.9990.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating to break 109.41 downwards. Possibly, the pair may fall towards 108.93 and then grow to return to 109.41. In fact, the price may continue the correction to the downside to reach 108.84 (an alternative scenario). According to the main scenario, the instrument is expected to form one more ascending structure with the target at 110.10.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.7153 and may continue growing towards 0.7234. After that, the instrument may decline to reach 0.7155 and then form one more ascending structure with the target at 0.7350.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still trading downwards. Possibly, the pair may extend the structure to reach 65.45 and then form one more ascending structure with the target at 66.36. Later, the market may continue trading inside the downtrend towards 62.25.

XAUUSD, “Gold vs US Dollar”

Gold has broken the consolidation range upwards and may continue growing towards 1311.80. Today, the pair may fall to reach 1294.04 and then start a new growth to return to 1311.80 from below. After that, the instrument may form a new descending structure with the target at 1254.15.

BRENT

Brent is trading below 61.16. Possibly, the pair may form one more ascending structure to reach 62.08 and then fall to return to 61.16. Later, the market may break this range to the upside and continue trading upwards with the target at 63.95.