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.
Brent is still correcting towards 42.42 and may later form one more ascending structure to reach 43.80.
AUDUSD has completed the ascending wave at 0.6990; right now, it is moving downwards to break 0.6949.
USDCHF is moving close to the downside border of the range.
USDJPY is consolidating around 107.46 without any particular direction.
USDRUB is still trading downwards to reach 69.96.
After breaking 1.2300 upwards, GBPUSD has completed another ascending wave at 1.2370, which may be considered as a correction.
After completing the descending structure at 1.1218 along with the correction towards 1.1251, EURUSD is expected to fall and break 1.1210 and then continue trading downwards to reach 1.1180.
The Index is still falling towards 2963.4.