Forex Technical Analysis & Forecast 21.05.2020
EURUSD, “Euro vs US Dollar”
After forming another consolidation range around 1.0946 and breaking it to the upside, EURUSD has reached 1.0998. Possibly, today the pair may fall to reach 1.0942 and then grow towards 1.0968, thus forming a new consolidation range. Later, the market may break it to the downside and resume trading inside the downtrend with the target at 1.0858.
GBPUSD, “Great Britain Pound vs US Dollar”
After breaking 1.2232 downwards, GBPUSD is expected to continue falling towards 1.2169. After that, the instrument may return to 1.2232 to test it from below and then continue trading downwards with the target at 1.2160.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has reached its downside target at 71.30. Today, the pair may consolidate around this level. Possibly, the price may correct towards 72.82 and then resume trading inside the downtrend with the target at 69.50.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting upwards to reach 107.80. After that, the instrument may continue falling with the short-term target at 107.17.
USDCHF, “US Dollar vs Swiss Franc”
After forming the consolidation range around 0.9687 and breaking it to the downside, USDCHF has reached 0.9644; right now, it is growing to return to 0.9687. Later, the market may start a new correction with the target at 0.9666.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6565. Possibly, today the pair may fall to reach 0.6522 and then form one more ascending impulse to return to 0.6565. Later, the market may resume trading inside the downtrend with the target at 0.6505.
Brent is growing towards 39.00. After that, the instrument may correct to reach 30.50 and then resume trading upwards with the target at 45.50.
XAUUSD, “Gold vs US Dollar”
After returning to 1739.39, Gold is expected to form one more ascending wave to reach 1758.58. After that, the instrument may start a new correction with the target at 1732.50.
BTCUSD, “Bitcoin vs US Dollar”
After completing the correction at 9400.00, BTCUSD is growing to break 9700.00. Later, the market may continue trading upwards with the target at 10100.00.
The Index is still consolidating around 2950.5. Possibly, today the pair may fall towards the downside border. If later the price breaks this range to the downside at 2922.2, the market may start a new correction to reach 2900.0; if to the upside at 2982.2 – form one more ascending structure with the target at 3012.3.