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Forex Technical Analysis & Forecast 21.08.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

21 august 2019 - Fx4News

EURUSD, “Euro vs US Dollar”

EURUSD is forming a wide consolidation range; after updating the low and returning to 1.1090, it has broken the range to the upside. Possibly, the pair may choose an alternative scenario to test 1.1090 from above and then resume trading upwards to reach 1.1112. According to the main scenario, the price is expected to continue trading inside the downtrend with the target at 1.1060.

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 completing the descending wave at 1.2066 and returning to 1.2140, GBPUSD has completed the continuation pattern to break this level to the upside and may choose an alternative scenario to grow towards 1.2140. Later, the market may start another decline to return to 1.2140 and then form one more ascending structure with the target at 1.2222. However, according to the main scenario, the price is expected to continue trading inside the downtrend with the target at 1.2060.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the descending correction at 0.9777. Today, the pair may start another growth to reach 0.9834 and then form a new descending structure towards 0.9797. After that, the instrument may resume trading upwards with the target at 0.9850.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still moving upwards. Possibly, today the pair may reach 106.80 and then start a new correction towards 106.50. Later, the market may form one more ascending structure with the target at 107.07.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6767. According to the main scenario, the price may move upwards to break 0.6830 and then continue trading inside the uptrend with the short-term target at 0.6880.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending impulse towards 66.61; right now, it is consolidating to break it to the downside. The target is at 66.10. Today, the pair may reach this level and then grow to test 66.60 from below. After that, the instrument may rebound from this level and start a new decline with the target at 65.65.

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

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is consolidating around 1.3310. Possibly, the pair may break this level to the downside and continue the correction to reach 1.3276. After that, the instrument may return to 1.3310, break it to the upside, and then continue trading inside the uptrend with the target at 1.3363.

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

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1505.65. Possibly, today the pair may expand the range towards 1483.40 and then start another growth to return to 1505.65. Later, the market may form a new descending structure with the first target at 1476.60.

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

BRENT

Brent has broken 60.05 and formed an upside continuation pattern. Today, the pair may reach 61.20 and then start a new decline to return to 60.05. After that, the instrument may resume trading inside the uptrend with the target at 62.44.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has completed Diamond reversal pattern. Possibly, today the pair may fall to break 10580.88 and then continue trading downwards with the target at 10236.00. Later, the market may be corrected towards 10500.00 and then form a new descending structure to reach 10000.00.

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

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