Forex Technical Analysis & Forecast 10.11.2020
EURUSD, “Euro vs US Dollar”
After completing the ascending structure wave at 1.1919 along with the descending structure towards 1.1800, EURUSD is expected to form a new consolidation range between these two levels; right now, it is moving right in the center of the range not far from 1.1860. If later the price breaks this range to the upside, the market may start another growth to reach 1.1966; if to the downside – resume trading downwards with the target at 1.1725.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still forming the consolidation range around 1.3170. Possibly, the pair may fall to reach 1.3080 and then resume growing towards 1.3250. After that, the instrument may form a new descending structure to return to 1.3080.
USDRUB, “US Dollar vs Russian Ruble”
After finishing another descending structure at 75.75, USDRUB is expected to consolidate near the lows. Later, the market may break the range to the upside and correct towards 78.20. After that, the instrument may resume moving within the downtrend with the target at 75.00.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished another ascending structure at 105.64; right now, it is falling to reach 104.30 and may later grow towards 105.00, thus forming a new consolidation range around the later level. After breaking this range to the downside, the market may resume trading within the downtrend with the target at 104.00.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the ascending structure at 0.9050 and breaking it to the upside, USDCHF has reached 0.9141. Possibly, today the pair may fall to return to 0.9050 and then start another growth with the target at 0.9090.
AUDUSD, “Australian Dollar vs US Dollar”
After forming a new consolidation range around 0.7272, breaking it to the upside, and then reaching 0.7333, AUDUSD has returned to 0.7272. Today, the pair may form a new descending structure to break 0.7242 and then continue trading downwards with the target at 0.7160.
BRENT
After completing the ascending wave at 43.58, Brent is expected to correct downwards with the target at 39.60. Later, the market may start another growth with the short-term target at 44.44.
XAUUSD, “Gold vs US Dollar”
After finishing the ascending wave at 1964.44 along with the descending structure towards 1902.76 and then forming a new consolidation range around the latter level, Gold has broken the range to the downside to reach 1853.80; right now, it is correcting to return to 1902.76 and test it from below. After that, the instrument may resume trading downwards with the target at 1840.00.
BTCUSD, “Bitcoin vs US Dollar”
After completing the correction at 15800.00 along with another descending structure towards 14800.00, BTCUSD is expected to consolidate around 15400.00. If later the price breaks this range to the upside, the market may start another growth to reach 16200.00 and then fall towards 13500.00; if to the downside – continue the correction with the target at 13800.00.
S&P 500
After finishing the ascending wave at 3647.7, the S&P index is falling to reach 3461.6, Later, the market may start another growth to break 3565.5 and then continue trading upwards with the target at 3685.5. After that, the instrument may form a new descending structure towards 3440.0.
