Forex Technical Analysis & Forecast 14.04.2020
EURUSD, “Euro vs US Dollar”
After finishing the first descending structure with the short-term target at 1.0892, EURUSD has completed the correction towards 1.0945. Possibly, the pair may break the correctional channel to the downside and then form a new descending structure with the first target at 1.0884. Later, the market may start another growth to reach 1.0925.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is moving upwards; it has broken 1.2515 to the upside. Possibly, today the pair may test this level from above and then form one more ascending structure to reach 1.2637 (an alternative scenario). However, the main scenario implies that the price may start plunging towards 1.2160 at any moment.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating around 74.50. According to the main scenario, the price is expected to continue falling towards 68.00. Today, the pair may form a new descending structure to reach 71.00 and then start another consolidation range.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has broken 107.72 to the downside; right now, it is still trading downwards to reach 107.37. Later, the market may return to 107.72 to test it from below and then start another decline with the short-term target at 106.10.
USDCHF, “US Dollar vs Swiss Franc”
After completing the first ascending impulse towards 0.9686, USDCHF has finished the correction at 0.9640. Later, the market may start another growth to break 0.9677 and then continue trading upwards with the target at 0.9710.
AUDUSD, “Australian Dollar vs US Dollar”
After extending the ascending wave up to 0.6410, AUDUSD is moving downwards to reach 0.6363. After that, the instrument may start another growth towards 0.6400, thus forming a new consolidation range between these levels. Later, the market may break the range to the downside and then resume trading downwards with the target at 0.6200.
After reaching 32.19, Brent is falling towards 28.60. Later, the market may start another growth to reach 32.40, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may grow to reach 35.85; if to the downside – resume trading downwards with the target at 27.40
XAUUSD, “Gold vs US Dollar”
After forming the consolidation range around 1680.00 and breaking it to the upside, Gold has reached 1720.00. Today, the pair may fall to test 1680.00 from above and then form one more ascending structure towards 1770.00. All ascending movements should be considered as an alternative scenario to continue the uptrend without any corrections..
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is growing to reach 7000.00. After that, the instrument may start a new decline towards 6800.00 and then resume trading upwards with the target at 7550.00.
S&P 500 is moving upwards to each 2871.5. Later, the market may resume falling with the next target at 2500.5.