Forex Technical Analysis & Forecast 12.01.2021
EURUSD, “Euro vs US Dollar”
EURUSD is still trading downwards; it has already broken 1.2148 and may later continue falling to reach 1.2111. After that, the instrument may correct towards 1.2200 and then resume moving downwards with the target at 1.2050.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still falling towards 1.3440. Later, the market may start another growth to reach 1.3533 and then form a new descending structure with the short-term target at 1.3416.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has expanded its consolidation range up to 74.90. Possibly, today the pair may form a new descending structure to break 74.15. After that, the instrument may continue falling with the short-term target at 72.50.
USDJPY, “US Dollar vs Japanese Yen”
After breaking 104.00 to the upside, USDJPY is expected to form one more ascending structure towards 104.50. Later, the market may start a new correction with the target at 103.50.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still growing towards 0.8935 and may later start a new decline with the target at 0.8846.
AUDUSD, “Australian Dollar vs US Dollar”
After breaking 0.7712 to the downside, AUDUSD is still falling towards 0.7657. Later, the market may start another correction to return to 0.7712 and then resume trading downwards with the short-term target at 0.7626.
Brent is still moving upwards to break 56.00. After that, the instrument may reach 56.87 and then start a new correction with the target at 53.60.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1842.42. Today, the metal may expand this range up to 1866.83 and then start a new decline to return to 1842.42. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 1815.10; if to the upside – resume trading upwards to reach 1901.55.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is consolidating around 33500.00. Possibly, today the asset may expand the range up to 36500.00 and then resume trading downwards with the short-term target at 30000.00.
The S&P index is still consolidating above 3784.9. Possibly, the asset may break the range to the downside and resume falling with the short-term target at 3745.0. After that, the instrument may return to 3784.0 to test it from below and then continue trading downwards to reach 3738.3.