Forex Technical Analysis & Forecast 20.01.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After reaching 1.1110 and forming a downside continuation pattern without any corrections, EURUSD has broken 1.1109 downwards to continue its decline. Possibly, today the pair may correct towards 1.1104 at least and then form a new descending structure with the target at 1.1080.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has reached 1.3000; right now, it is consolidating around this level. Possibly, the pair may correct to reach 1.3050 and then continue trading inside the downtrend reach the target at 1.2940.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has reached the short-term upside target at 0.9690. Today, the pair may correct towards 0.9660 and then start a new growth with the target at 0.9707.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 109.99. According to the main scenario, the price is expected to form one more ascending structure towards 110.53 and then resume falling with the target at 109.77.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is falling towards 0.6852. After that, the instrument may resume moving upwards to reach 0.6888 and then start another decline with the target at 0.6834.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB continues consolidating around 61.50. Possibly, the pair may break it upwards to reach 61.90. Later, the market may resume trading inside the downtrend with the target at 60.80.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is consolidating around 1.3062. Possibly, the pair may form a new descending structure towards 1.3050 and then resume growing with the target at 1.3082.
XAUUSD, “Gold vs US Dollar”
Gold is moving upwards. Today, the pair may reach 1566.66 and then start a new correction with the first target at 1554.20.
Brent is forming the third ascending structure to reach 65.12. Later, the market may start another correction towards 65.30 and then resume trading inside the uptrend with the first target at 66.50.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD has tested 8500.00 from above. Possibly, today the pair may form one more ascending structure towards 9240.00 and then start a new correction with the target at 7700.00.