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.
The S&P index is consolidating around 3269.9.
Brent is still consolidating below 42.60.
USDRUB is still consolidating around 76.00.
After breaking 42.80 to the downside and finishing the correction at 41.41, Brent is growing to test 42.80 from below.
After completing the correction at 1.2864, GBPUSD is forming another ascending structure to reach 1.2990.
After testing and rebounding from 104.88, USDJPY is still trading downwards and trying to test the upside border of the current channel.
After testing and breaking 104.88, USDJPY is expected to continue falling with the target at 104.40.
USDRUB is slowly falling towards the support area at 74.50.