Forex Technical Analysis & Forecast 23.12.2020
EURUSD, “Euro vs US Dollar”
After completing the descending wave at 1.2152 EURUSD has broken 1.2184 to the upside; right now, it is consolidating around the latter level. Possibly, the pair may break this range to the upside to reach 1.2218 and then fall to return to 1.2184. If later the price breaks this range to the upside, the market may start another growth towards 1.2330; if to the downside – resume trading downwards with the target at 1.2050.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the descending wave at 1.3308, GBPUSD has broken 1.3370 to the upside; right now, it is still moving upwards. Possibly, today the pair may reach 1.3439 and then fall to return to 1.3370, thus forming a new consolidation range around the latter level. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 1.3544; if to the downside – resume trading downwards with the target at 1.3180.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating around 75.40. Today, the pair may expand the range up to 76.10 and then form a new descending structure to break 74.50. After that, the instrument may continue trading downwards with the target at 73.20.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 103.51. Possibly, the pair may expand the range up to 103.77 and then fall to break 103.30. After that, the instrument may start another decline to break 103.00 and then continue trading downwards with the target at 102.50.
USDCHF, “US Dollar vs Swiss Franc”
After breaking 0.8880 to the downside, USDCHF is still falling. Possibly, today the pair may reach 0.8855 and then form one more ascending structure to return to 0.8880, thus forming a new consolidation range between two latter levels. If later the price breaks this range to the upside, the market may start another growth to reach 0.8940; if to the downside – resume trading downwards with the target at 0.8840 or even continue falling towards 0.8811.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7544. If later the price breaks this range to the upside, the market form one more ascending structure to reach 0.7636; if to the downside – resume trading downwards to break 0.7490 and then continue falling with the target at 0.7373.
BRENT
After completing another descending structure at 49.50, Brent is expected to grow and test 50.25 from below. Later, the asset may correct with the short-term target at 47.83.
XAUUSD, “Gold vs US Dollar”
After finishing the descending wave at 1863.68, Gold is forming a new consolidation range around this level. Possibly, the pair may start another growth to test 1875.70 from below and then form a new descending structure with the target at 1844.54.
BTCUSD, “Bitcoin vs US Dollar”
After forming a new consolidation range below 23100.00 and breaking it to the upside, BTCUSD has reached the short-term upside target at 23950.00. Possibly, today the asset may return to 23100.00 to test it from above and then resume trading upwards to with the target at 24250.00.
S&P 500
The S&P index is still consolidating above 3670.9. Today, the asset may grow towards 3709.0 and then return to test 3670.9 from above. Later, the market may form one more ascending structure with the target at 3736.2.