Forex Technical Analysis & Forecast 09.06.2020
EURUSD, “Euro vs US Dollar”
After finishing the descending impulse at 1.1270, EURUSD is expected to correct with the target at 1.1330; right now, it is consolidating around 1.1290. If later the price breaks the range to the upside, the market may reach the above-mentioned target; if to the downside – resume trading inside the downtrend to reach 1.1200.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the ascending wave at 1.2744, GBPUSD is trading downwards to reach 1.2686. After that, the instrument may consolidate above this level. If later the price breaks the range to the downside, the market may resume falling with the target at 1.2600.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating around 68.40. Possibly, the pair may break the range to the downside and reach 67.55. Later, the market may start a new correction towards 70.00 and then resume trading inside the downtrend with the target at 66.50.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting towards 107.87. Possibly, the pair may reach this level and then form one more ascending structure with the target at 109.23. Later, the market may start another correction towards 108.50.
USDCHF, “US Dollar vs Swiss Franc”
After breaking 0.9595 to the downside, USDCHF is expected to form another descending structure towards 0.9540. Today, the pair may test 0.9595 from below and then fall towards 0.9550.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the ascending wave at 0.7020, AUDUSD is falling towards 0.6936. Possibly, the pair may reach this level and then start another growth to reach 0.6986, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may resume trading downwards with the target at 0.6787.
BRENT
Brent is falling. Possibly, the pair may correct towards 38.80 and then grow to reach 43.43, thus forming a wide consolidation range 41.00. If later the price breaks the range to the upside, the market may resume trading upwards to reach 47.50; if to the downside – start a new correction with the target at 32.72.
XAUUSD, “Gold vs US Dollar”
After completing the ascending correction at 1704.00, Gold is expected to form a new descending wave to break 1681.35. After that, the instrument may continue trading inside the downtrend with the short-term target at 1658.00.
BTCUSD, “Bitcoin vs US Dollar”
After completing the descending impulse at 9561.00 and the correction towards 9700.00, BTCUSD is expected to resume falling and break 9500.00. Later, the market may continue trading downwards with the first target at 9100.00.
S&P 500
The Index continues the ascending wave towards 3250.2. Possibly, today the asset may reach this level and then start a new correction to break 3177.5. After that, the instrument may continue trading downwards with the target at 3125.5.