Forex Technical Analysis & Forecast 12.02.2021
EURUSD, “Euro vs US Dollar”
EURUSD continues consolidating around 1.2120. Possibly, today the pair may expand the range down to 1.2114 and then start another growth to return to 1.2135. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 1.2155; if to the downside – resume trading downwards with the target at 1.2088.
GBPUSD, “Great Britain Pound vs US Dollar”
After breaking 1.3810, GBPUSD is still moving downwards to reach 1.3770. After that, the instrument may grow to test 1.3820 from below and then resume falling with the target at 1.3760.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is falling towards 73.40. After that, the instrument may correct to reach 74.48 and then resume falling with the target at 72.52.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is growing towards 105.30 and may later start a new decline, thus forming a new consolidation range between these two levels. If the price breaks this range to the downside, the market may continue the correction towards 103.30; if to the upside – form one more ascending structure with the target at 105.90.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 0.8903. Today, the pair may break the range to the upside and then form one more ascending structure to break 0.8975. Later, the market may continue growing with the target at 0.9070.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is falling towards 0.7730 and may later start a new growth to reach 0.7750, thus forming a new consolidation range around the latter level. After that, the instrument may break the range to the downside and resume trading downwards with the target at 0.7666.
BRENT
Brent is falling towards 60.00 and may later grow to reach 60.70. If the price breaks the latter level to the upside, the market may continue growing towards 61.00. After that, the instrument may break this level as well and form one more ascending structure with the target at 62.50.
XAUUSD, “Gold vs US Dollar”
After breaking 1834.42, Gold has finished the descending wave at 1821.60. Today, the metal may break start another growth to test 1834.40 from below and then resume falling to reach 1812.00. Later, the market may form one more ascending structure with the target at 1861.30.
BTCUSD, “Bitcoin vs US Dollar”
After completing another ascending wave at 48800.00, BTCUSD is expected to fall towards 43666.00. After that, the instrument may grow to reach 45700.00 and form a reversal pattern there. The first downside target is at 38800.00.
S&P 500
The S&P index is still consolidating around 3917.0. Possibly, today the asset may grow to reach 3940.0 and then fall to test 3917.0 from above. Later, the market may start a new growth to complete this ascending wave at 3950.2.