rfxsignals April 29, 2020 No Comments

Forex Technical Analysis & Forecast 29.04.2020

29.04.2020

EURUSD, “Euro vs US Dollar”

After completing another ascending structure from 1.0810 towards 1.0888, EURUSD may try to update 1.0915. According to the main scenario, the price is expected to return to 1.0810 and break it to the downside. After that, the instrument may continue trading inside the downtrend with the short-term target at 1.0766.

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”

After finishing the first descending impulse at 1.2420, GBPUSD is correcting towards 1.2483. Later, the market may start a new decline to break 1.2410 and then continue falling with the short-term target at 1.2343.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating above 74.00 without any particular direction. If later the price breaks this range to the upside at 74.80, the market may start another correction to reach 75.75; if to the downside at 74.00 – resume trading downwards with the short-term target at 71.30.

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

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending structure at 106.66, USDJPY is consolidating around this level. Today, the pair may expand the range down to 106.00 and then grow towards 106.90. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 107.42; if to the downside – extend the descending wave towards 105.50.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating above 0.9722. The main scenario implies that the price may form one more ascending wave to break 0.9757 and then continue trading upwards with the short-term target at 0.9790. However, if the pair breaks 0.9700 to the downside, the instrument may continue the correction to reach 0.9670.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continue moving upwards. Possibly, the pair may reach 0.6542 and then start a new decline to break 0.6440. After that, the instrument may continue trading downwards with the target at 0.6330.

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

BRENT

Brent is consolidating around 24.34. Possibly, today the pair may fall to reach 21.21 and then form one more ascending structure to break 27.00. Later, the market may continue trading upwards with the target at 32.32.

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

XAUUSD, “Gold vs US Dollar”

After completing the descending structure at 1691.60, Gold is growing to reach 1716.44. After that, the instrument may correct towards 1702.50 and then form one more ascending structure to break 1717.00. Later, the market may continue trading inside the uptrend with the target at 1751.50.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD continues growing towards 7860.00. Later, the market may start a new correction to return to 7660.00 and then form one more ascending structure with the first target at 8000.00

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

S&P 500

S&P 500 is moving upwards. Possibly, today the pair may reach 2933.3 and then start another correction towards 2700.0. After that, the instrument may form one more ascending structure with the target at 3160.2.

S&P 500