Forex Technical Analysis & Forecast 02.12.2020
EURUSD, “Euro vs US Dollar”
The pair has reached the estimated goal of the wave of growth to 1.2030. For now, the market is pushed upwards. Today, the level of 1.2085 might be reached, followed by a decline to 1.2030. If this level is broken through downwards, the price might go deeper to 1.1980. The goal is first.
GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair has extended the consolidation area to 1.3440. Today, a link of correction to 1.3385 might follow. Then another structure of growth to 1.3457 might form, followed by falling to 1.3345. The goal is first.
USDRUB, “US Dollar vs Russian Ruble”
The currency pair has demonstrated the first wave of growth to 76.45 and is now trading in a wave of decline to 75.05. Upon reaching this level, a correction to 75.85 might follow. Then another structure of decline to 74.60 might develop. The goal is main.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair keeps developing a consolidation range around 104.22, lacking any pronounced trend. We expect the range to extend to 104.65. Then we expect a decline to 103.40, followed by a link of growth to 104.00 (a test from below) and a decline to 102.50.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair has finished a wave to 0.9011 and is now being pushed downwards. Today, the level of 0.8973 might be reached. Then a wave of growth to 0.9070 might begin. The goal is first.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair keeps developing a consolidation range around 0.7365. Today, it might grow to 0.7391, followed by a decline to 0.7360. With an escape from the range upwards, the level of 0.7418 might be reached. With an escape downwards, the wave might continue to 0.7260.
BRENT
Oil has broken the level of 47.47 downwards and suggests further correction to 46.46. The goal is local. Then expect a link of growth to 47.47, followed by a decline to 46.46.
XAUUSD, “Gold vs US Dollar”
Gold has reached the local goal of the wave of growth at 1816.60. Today, a link of correction to 1795.15 is not excluded. After the correction ends, we expect the quotations to grow to 1826.35. The goal is first.
BTCUSD, “Bitcoin vs US Dollar”
Today, the market is trading in a structure of decline to 18,000. Upon reaching this level, the price might grow to 19,200. At this levels, a consolidation range might develop. If the price escapes it upwards, it might reach 20,050. If it goes down, the correction might continue to 16,500.
S&P 500
The index keeps forming a consolidation range above 3646.3. If the price escapes it downwards, we expect it to decline to 3613.5, then grow to 3646.6 and fall to 3600.0.
