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.
GBPUSD continues the correction.
EURUSD is falling towards 1.1855 and may later grow to reach 1.1895, thus forming a new consolidation range between these two levels.
Stock index S&P 500 keeps developing a wave of growth to 4160.3.
Gold keeps developing a wave of growth to 1755.73.
Oil keeps developing a consolidation range around 63.00. Today it might fall to 60.00.
GBPUSD has completed a wave of growth to 1.3910. Today the market is forming a consolidation range at these highs.
EURUSD ompleted a wave of growth towards 1.1785. Today the market is correcting to 1.1747, after which we expect growth to 1.1797.
Brent is still consolidating around 64.00; right now, it is moving upwards to reach the 65.52.