Forex Technical Analysis & Forecast 01.12.2020
EURUSD, “Euro vs US Dollar”
The currency pair has reached the local goal of the wave of growth at 1.2000. Then the market performed a correction to 1.1925. Today, it is trading in a structure of growth towards 1.1970. Then a link of decline to 1.1944 might follow. Around these levels, a consolidation range is expected to develop. With an escape upwards, a pathway towards 1.2000 will open, with a potential goal of 1.2020. With an escape downwards, the correction might continue to 1.9000.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair extended the consolidation area to 1.3383 and dropped to 1.3316. Today, the market is growing towards 1.3371. If this level is broken upwards, the growth might continue to 1.3400. In the case 1.3315 is broken away downwards, the quotations might go deeper down to 1.3290. And if this level is broken away as well, the correction might continue to 1.3150.
USDRUB, “US Dollar vs Russian Ruble”
The currency pair has broken 75.88 upwards and suggests a correction to 76.66. After this level is reached, we expect a new declining wave to 74.60. The goal is first. When this level is reached, a correction to 77.70 might form.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair keeps developing a consolidation range under 104.40 with no clear trend. We expect the range to extend to 103.40, followed by a link of growth to 104.40 and a decline o 102.50. The goal is main.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair demonstrated an impulse of growth to 0.9092. Today, the market is trading in a structure of decline to 0.9050. Around these levels, we expect a consolidation range to form. After the price escapes it upwards, growth to 0.9127 will become possible. The goal is local. After the price escapes the range downwards, it might go further down to 0.9011. Then a wave of growth to 0.9100 might starts.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair performed a wave of growth to 0.7406 and a link of correction to 0.7341. Today, the market is trading in a structure of growth to 0.7377. Then we expect a decline to 0.7355. Around these levels, a consolidation range is likely to form. With an escape upwards, a potential of growth to 0.7410 will appear. With an escape downwards, a decline to 0.7260 will become possible.
BRENT
Oil keeps forming a consolidation range above 47.33. If the price escapes it downwards, it might further correct to 46.41. The goal is local. Upon escaping the range upwards, the price might grow to 48.90.
XAUUSD, “Gold vs US Dollar”
Gold performed a wave of decline to 1764.50. Today, the market is forming a consolidation range above this level. We consider growth to 1807.80, followed by a decline to 1782.85 and growth to 1832.40.
BTCUSD, “Bitcoin vs US Dollar”
The market has completed another wave of growth towards 19,800. At the moment, the market is forming a consolidation range under this level. A decline to 18,150 is possible. Then growth might continue to 20,000. After this level is reached, a correction to 16,500 might begin.
S&P 500
The stocks market performed a correction to 3600.0 and today, opening with a gap upwards, has almost used the whole potential of this wave, covering 3661.5. We expect a consolidation range to develop at the current highs. After the price escapes the range downwards, we expect it to go back down to 3600.0.
