Forex Technical Analysis & Forecast 18.02.2021
EURUSD, “Euro vs US Dollar”
After finishing the descending structure at 1.2044, EURUSD is forming a new consolidation range around this level. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.2004; if to the upside – start another growth with the target at 1.2064.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the descending wave at 1.3850; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may start a new decline towards 1.3775; if to the upside – resume trading upwards with the target at 1.3903.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still falling to reach 73.30 and may later consolidate there. After that, the instrument may break the range to the downside and resume trading downwards with the target at 72.50.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is forming the descending wave towards 105.30 and may later start another growth to reach 105.73, thus forming a new consolidation range. Later, the market may break the range to the downside and continue trading downwards with the short-term target at 104.50.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the ascending wave at 0.8988, USDCHF is expected to correct towards 0.8950. After that, the instrument may resume trading upwards with the target at 0.9028.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7750. Possibly, today the pair may break the range to the downside and resume trading downwards to reach 0.7676. Later, the market may start a new growth with the target at 0.7750.
BRENT
Brent has reached its predicted upside target at 64.77. Today, the asset may form a new descending structure to reach 64.30 and then start another growth with the target at 65.75.
XAUUSD, “Gold vs US Dollar”
Gold has completed the descending wave at 1772.50. Possibly, today the metal may correct to test 1793.33 from below and then start another decline with the closest target at 1750.00.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is expected to move upwards to reach 52900.00. Later, the market may correct with the target at 48400.00.
S&P 500
The S&P index is still consolidating around 3927.1. Today, the asset may grow to reach 3971.0 and then move downwards to reach 3900.0. After that, the instrument may break the latter level and continue falling with the target at 3609.0.