Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.
After completing the ascending wave at 3866.7, the S&P index is correcting towards 3837.0.
Brent has finished the ascending wave at 56.47.
USDJPY has finished the descending wave at 103.76. Today, the pair may consolidate around this level.
After completing the descending wave at 1.3520, GBPUSD is growing to reach 1.3626.
After forming another consolidation range around 1.2111 and breaking it to the downside, EURUSD is expected to continue falling to reach 1.2050.
Gold is still consolidating above 1837.40; right now, it is moving towards the upside border at 1863.44.
After finishing the descending impulse at 55.80 along with the correction towards 56.50, Brent is falling to return to 55.80 and break it.
After breaking 104.00 to the downside, USDJPY has reached the short-term downside target at 103.54.