rfxsignals May 5, 2020 No Comments

Forex Technical Analysis & Forecast 05.05.2020

05.05.2020

EURUSD, “Euro vs US Dollar”

The currency pair keeps developing a declining wave. Today, it may reach the level of 1.0851. Then it may correct to 1.0935. Then the downtrend may continue to 1.0795. The goal is local.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has formed a consolidation range around 1.2450. Today, the range may extend to 1.2500, the level tested from below. Practically, the wave of correction will form. Then, the pair may decline to 1.2368. The goal is first.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

The currency pair has corrected to 75.80. Today, it may decline to 73.50 and then correct to 74.74. Then the trend may continue to 72.00. The goal is local.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has demonstrated a declining wave to 106.51. Today, it may grow to 106.80. At these levels. A consolidation range is going to form. When the price escapes it upwards, the way to 107.00 will open. After this level is broken upwards, the growth may continue to 107.70. If the range is broken downwards, the price may decline to 105.55.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The pair has performed a momentum of growth to 0.9662. Today, the market is trading in a consolidation area under this level. A correction to 0.9626 is not excluded. After that, the growth may continue to 0.9670. Breaking this level upwards, it may proceed to 0.9720. The goal is local.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair, trading inside a consolidation range around 0.6418, broke it upwards. A correction may develop to 0.6470. Today, this level may be reached. Then, the price may go down to 0.6365. The goal is first.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Today, oil is being pushed upwards. Practically, it is trading in the structure of the third wave aiming at 32.02. Today, we expect this level to be reached. Then, a correction to 27.00 may begin, followed by growth to 38.20. The goal is first.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has performed the first wave of growth to 1714.14. Today, it may correct to 1691.50. After the correction is over, the next wave of growth to 1718.25 may begin. Breaking this level away, the price may proceed to 1745.25. The goal is local.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Bitcoin

The market has demonstrated a declining wave to 8600. Today, it is trading in the structure of a wave of growth to 8925. Practically, this wave is almost over. At the moment, the market is trading in a consolidation range around this target level. The range may further extend to 9000. Then we may expect a declining structure aiming at 8470. Breaking this level downwards, the price may proceed to 7990. The goal is local. If the growth continues and 9200 is broken away, the wave may extend to 10000.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The index is trading in a structure of growth to 2877.2. After this level is reached, it may develop a structure of a decline to 2691.4. Then the correction will be over. After that, another wave of growth to 3160.2 may develop.

S&P500