Month: July 2020

Currency pair Australian Dollar to US Dollar AUD/USD ends the trading week near the 0.6996 area. The pair continues to move within the framework of growth. Moving averages indicate a bullish trend. Prices have broken the area between the signal lines upward, which indicates pressure from buyers and a potential continued growth. At the moment, we should expect an attempt to continue the development of growth and test the resistance area near the level of 0.7025. Then, the rebound and the continuation of the fall in AUD/USD with a potential target below the level of 0.6125.

AUD/USD Forecast and Analysis July 20 — 24, 2020

The formation of the «Head and Shoulders» reversal pattern on the relative strength index (RSI) is in favor of reducing the pair on Forex. The second signal will be a rebound from the resistance level. Cancellation of the option of falling the AUD/USD currency pair in the current trading week July 20 — 24, 2020 will be a strong growth and a breakdown of the level of 0.7265. This will indicate a breakdown of resistance and continued growth of the Australian Dollar on Forex with a potential target at 0.7655. Confirmation of the development of the fall will be a breakdown of the support area and a close below 0.6705, which will indicate the completion of the formation of the «Double Top» reversal pattern.

Among the important news from Australia that may affect the Australian rate, it is worth highlighting: Reserve Bank of Australia (RBA) Governor Lowe Speech, Australia Retail Sales m/m.

AUD/USD Forecast and Analysis July 20 — 24, 2020 involves an attempt to develop a correction and test the level of 0.7025. Further, the continuation of the fall of the currency pair below the level of 0.6125. A test of the trend line on the relative strength index (RSI) will be in favor of reducing the pair in the current trading week. Cancellation of the fall option will be a strong growth and a breakdown of the 0.7265 area. This will indicate a breakdown of the resistance area and continued growth of the pair with a target above 0.7655.

Currency pair US Dollar to Russian Ruble USD/RUB ends the trading week near the level of 71.80 rubles per US Dollar. The pair continues to move within the framework of the growth and the ascending channel. Moving averages indicate a bullish trend. Prices are testing the area between the signal lines, which indicates pressure from US dollar buyers. In the current trading week July 20 — 24, 2020 we should expect an attempt to develop a fall and a test of the support area near the level of 67.75. Where can we expect a rebound and continued growth in the dollar rate against the Russian Ruble above the level of 79.65.

USD/RUB Forecast and Analysis July 20 — 24, 2020

An additional signal in favor of the rise of the Dollar/Ruble pair will be a rebound from the support area. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the Dollar/Ruble pair will be a fall and a breakdown of the 64.05 area. This will indicate a breakdown of the support level and a continued fall in the US Dollar against the Russian Ruble with a target below 60.35. It is worth waiting for confirmation of growth for the pair with the breakdown of the resistance area and closing of the USD/RUB quotes above the level of 73.95, which will indicate a breakdown of the upper border of the descending channel.

USD/RUB Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the support area near the level of 67.75. Where can we expect an attempt to raise the price and the Dollar rate to the area above the level of 79.65. An additional signal in favor of this option will be a rebound from the support line on the relative strength index (RSI). Cancellation of the growth option for the Dollar in the current trading week will be a fall and a breakdown of the 64.05 area. This will indicate the continued fall of the pair with a target at the level of 60.35.

Currency pair Pound Dollar GBP/USD completes the trading week near the area of ​​1.2559. The pair continues to move as part of the correction and the formation of a large «Head and Shoulders» reversal pattern. Moving averages indicate a bearish trend. Prices are testing the areas between the signal lines, which indicates pressure from sellers and a potential continuation of the decline in the British Pound against the US Dollar at current levels. At this point, we should expect an attempt to continue the development of an upward correction and test the resistance area near the level of 1.2685. Further, the rebound and the beginning of the fall in the Pound/Dollar quotes to the area below the level of 1.1715.

GBP/USD Forecast and Analysis July 20 — 24, 2020

An additional signal in favor of the fall of the British Pound will be a test of the trend line on the relative strength index (RSI). The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option to drop the GBP/USD pair in the current trading week July 20 — 24, 2020 will be a strong growth and a breakdown of the 1.3045 area. This will indicate a breakdown of the resistance area and continued growth to the area above the level of 1.3535. A confirmation of the fall in the GBP/USD currency will be the breakdown of the support area and the closing of prices below the level of 1.2005, this will indicate the completion of the formation of the «Head and Shoulders» reversal pattern.

Among the important news from the UK, which may have an impact on the Pound/Dollar rate, it is worth highlighting: United Kingdom Retail Sales m/m.

GBP/USD Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the resistance level near the 1.2685 area. Where can we expect the pair to continue falling with a target below the 1.1715 area. An additional signal in favor of the fall will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the pair Pound/Dollar will be a strong growth and a breakdown of the level of 1.3045. In this case, we should expect the pair to continue to grow with a potential target above the level of 1.3535.

BRENT finish the trading week near the area of ​​$ 43.16 per barrel. And it continues to move within the bullish correction and the downward channel. Moving averages indicate a bearish trend. Prices are testing the area between the signal lines, which indicates pressure from sellers of raw materials and a potential continuation of the decline. At the moment, we should expect an attempt to develop growth and test the resistance area near the level of 44.45. Then, the rebound and the continuation of the fall of oil to the area below the level of $ 27.45 per barrel.

BRENT crude oil Forecast and Analysis July 20 — 24, 2020

An additional signal in favor of a fall in oil quotes this week will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling quotes and BRENT oil prices in the trading week July 20 — 24, 2020 will be a strong growth and a breakdown of the level of 50.05. This will indicate a breakdown of the resistance area and continued growth of oil to the area above the level of 57.65. With the breakdown of the support area and closing of quotations below the level of 36.55, we should expect confirmation of a fall in the BRENT oil price.

BRENT crude oil Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the resistance area near the level of 44.45. Where can we expect a rebound and an attempt to drop oil with a potential target at the level of 27.45. An additional signal in favor of a decline in oil prices will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong increase in prices and a breakdown of the 50.05 area. This will indicate a breakdown of the resistance area and a continuation of the rise in oil prices with a target above 57.65.

Currency pair Euro Dollar EUR/USD completes the trading week near the 1.1436 area. The pair continues to move as part of the correction and the formation of a large «Triangle» pattern. Moving averages indicate a bullish trend for the pair. Prices broke through the area between the signal lines upwards, which indicates pressure from buyers of the European currency and a likely continuation of the bullish correction. At the moment, we should expect an attempt to develop growth and test the resistance area near the level of 1.1495. Where is the rebound and the continuation of the fall of the Euro/Dollar expected. The potential target of the rise is the area below the level of 1.0965.

EUR/USD Forecast and Analysis July 20 — 24, 2020

In favor of the fall of the EUR/USD currency pair on Forex, a test of the resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper border of the «Triangle» pattern. Cancellation of the option of falling quotes of the Euro/Dollar pair in the current trading week July 20 — 24, 2020 will be a strong growth and a breakdown of the level of 1.1645. This will indicate a breakdown of the resistance area and continued growth of the pair to an area above the level of 1.2015. With the breakdown of the support area and closing of quotations below the level of 1.1075, we should expect confirmation of the development of a bearish movement in the pair and the completion of the formation of the «Double Top» reversal pattern.

Among the important news from America and Europe in the next trading week, which may have an impact on the EUR/USD rate, it is worth highlighting: United States New Home Sales.

EUR/USD Forecast and Analysis July 20 — 24, 2020 suggests an attempt to test the resistance area near the level of 1.1495. Where can we expect the pair to continue falling to the area below the level of 1.0965. An additional signal in favor of a decline will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option to drop the Euro/Dollar will be a strong growth and a breakdown of the level of 1.1645. In this case, we should expect the pair to continue to grow with a potential target at the level of 1.2015.

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GBPUSD SELL-1.25136
SL-1.25770
TP1-1.24858
TP2-1.24596

GBPCHF SELL-1.17892
SL-1.18322
TP1-1.17677
TP2-1.17399

EURUSD SELL-1.12643
SL-1.13093
TP1-1.12361
TP2-1.12082

NZDUSD SELL-0.65278
SL-0.65959
TP1-0.65051
TP2-0.64802

EURJPY SELL-121.139
SL-121.492
TP1-120.963
TP2-120.774

AUDCAD SELL-0.94341
SL-0.94693
TP1-0.94128
TP2-0.93883

GBPNZD SELL-1.91406
SL-1.91855
TP1-1.91129
TP2-1.90792

GBPAUD SELL-1.80350
SL-1.80824
TP1-1.80050
TP2-1.79701

GBPCAD SELL-1.70225
SL-1.70875
TP1-1.69918
TP2-1.69604

GBPJPY SELL-134.572
SL-135.351
TP1-134.316
TP2-134.049

NZDCHF SELL-0.61504
SL-0.61941
TP1-0.61286
TP2-0.61056

NZDCAD SELL-0.88873
SL-0.89285
TP1-0.88599
TP2-0.88317

CHFJPY BUY 114.289
SL-114.015
TP1-114.487
TP2-114.715

usdjpy sell-107.446
sl-107.782
TP1-107.208
TP2-107.010

USDCHF SELL-0.94043
SL-0.94414
TP1-0.93846
TP2-0.93650

USDCAD SELL-1.35846
SL-1.36236
TP1-1.35606
TP2-1.35375

CADJPY BUY -79.378
SL-78.944
TP1-79.594
TP2-79.833

EURNZD BUY -1.72703
SL-1.72111
TP1-1.73054
TP2-1.73494

EURGBP BUY -0.90094
SL-0.89584
TP1-0.90357
TP2-0.90616