Forex Technical Analysis & Forecast 09.10.2020

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1757. Possibly, today the pair may expand the range up to 1.1781, fall towards the downside border at 1.1731, and then grow to return to 1.1757. If later the price breaks this range to the downside, the market may start a new decline to break 1.1717 and then continue falling with the target at 1.1660; if to the upside – form one more ascending structure towards 1.1800 (an alternative scenario) and then resume trading downwards to reach the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2929. Today, the pair may expand the range up to 1.2969, fall towards 1.2890, and then grow to return to 1.2929. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 1.2800; if to the upside – start another growth towards 1.3012 (an alternative scenario) and then resume trading within the downtrend to reach the above-mentioned target.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending wave at 77.40. Today, the pair may correct towards 78.16 and then resume falling with the first target at 76.40.

USDJPY, “US Dollar vs Japanese Yen”

After forming the consolidation range below 106.00, USDJPY is trading to break it to the downside. Possibly, the pair may form a new descending structure to reach 105.50 and then start another correction towards 105.80. After that, the instrument may resume trading downwards with the target at 105.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9170. Today, the pair may expand the range down to 0.9144 and then resume trading upwards to reach 0.9191. Later, the market may continue growing with the short-term target at 0.9269.

AUDUSD, “Australian Dollar vs US Dollar”

After rebounding from 0.7146, AUDUSD is moving upwards. Possibly, the pair may expand the range up to 0.7195. After that, the instrument may return to break 0.7146 and then continue trading downwards with the target at 0.7100.

BRENT

After finishing the ascending structure at 43.50, Brent is expected to correct towards 41.50. Later, the market may resume growing with the first target at 44.22 and then start a new correction to return to 41.50.

XAUUSD, “Gold vs US Dollar”

After rebounding from 1882.00 and finishing one more ascending structure at 1910.00, Gold is consolidating below the latter level. If later the price breaks this range to the upside, the market may start another growth to reach 1920.00 or even 1957.70; if to the downside – resume trading downwards with the target at 1890.20.

BTCUSD, “Bitcoin vs US Dollar”

After breaking 10600.00 and reaching the upside border of the range at 10900.00, BTCUSD is consolidating below the latter level. If later the price breaks this range to the downside, the market may form a new descending structure to break 10600.00 and then continue falling with the target at 10100.00; if to the upside – start another growth towards 11100.00 (an alternative scenario).

S&P 500

After reaching the predicted target at 3444.2, the S&P index has expanded the range up to 3468.0 due to the gap to the upside this morning; right now, it is moving downwards. Possibly, the asset may return to test 3444.2 from above and then form one more ascending structure with the target at 3485.3.