Forex Technical Analysis & Forecast 05.11.2020
EURUSD, “Euro vs US Dollar”
After finishing the descending structure at 1.1602 and then returning to 1.1680, EURUSD has formed a new consolidation range around the latter level just to break it to the upside. Possibly, today the pair may grow towards 1.1770 and then resume trading downwards to break 1.1600. Later, the market may continue falling with the predicted target at 1.1425.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating around 1.2993. Possibly, the pair may expand the range down to 1.2853 or even break it. After that, the instrument may continue trading downwards with the predicted target at 1.2777.
USDRUB, “US Dollar vs Russian Ruble”
After the market opening, USDRUB may reach 77.07. After that, the instrument may correct towards 78.35 and then resume moving within the downtrend with the first target at 76.07.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 104.54. Today, the pair may expand the range down to 104.00 and then form one more ascending structure towards 104.50. Later, the market may resume trading within the downtrend with the first target at 103.70.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 0.9133. Possibly, today the pair may fall towards 0.9077 and then start another growth to break 0.9200. After that, the instrument may continue trading within the uptrend with the short-term target at 0.9304.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.7147. Possibly, the pair may grow towards 0.7222 and then resume falling and break 0.7147. Later, the market may continue trading downwards with the target at 0.7040.
BRENT
Brent is consolidating around 40.24. Today, the asset may form a new descending structure towards 39.60 and then start another growth with the first target at 42.69. After that, the instrument may resume falling to return to 39.60.
XAUUSD, “Gold vs US Dollar”
After rebounding from 1889.42, Gold is growing to reach 1921.04 and may even extend this structure towards 1929.55. Later, the market may start a new decline to break 1889.42 and then continue trading within the downtrend with the target at 1859.80.
BTCUSD, “Bitcoin vs US Dollar”
After completing the ascending structure at 14250.00, BTCUSD is consolidating around this level. Possibly, today the asset may move upwards to reach 14500.00 and then start a new correction with the target at 13500.00.
S&P 500
The S&P index has finished the ascending structure at 3440.4; right now, it is trading to break this level upwards. Possibly, the asset may form one more ascending structure towards 3545.3 and then resume trading within the downtrend with the first target at 3334.4.
