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 consolidating and forming Triangle pattern at the lows.
Gold is developing the consolidation range around 1507.40. The main scenario may be a decline to 1494.30.
USDCAD has reached the upside target at 1.3333; right now, it is consolidating around 1.3300.
After returning to 65.55 and forming a new consolidation range around it, USDRUB has broken the range to the upside and may choose an alternative scenario to continue growing with the target at 66.22.
AUDUSD is forming the third ascending wave.
USDJPY is being corrected towards 105.70.
USDCHF is still consolidating.
GBPUSD has completed another descending structure at 1.2100 along with the correction at 1.2155; right now, it is consolidating below the latter level.