Forex Technical Analysis & Forecast 11.06.2020

EURUSD, “Euro vs US Dollar”

After expanding the range up to 1.1420, EURUSD is correcting downwards. Possibly, the pair may fall to reach 1.1330, thus forming a consolidation range around 1.1360. If later the price breaks the range to the upside, the market may resume trading upwards to reach 1.1460; if to the downside – start a new correction with the target at 1.1180.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the descending wave at 1.2682. Today, the pair may form one more ascending structure to reach 1.2747, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may form a new descending structure to reach 1.2600.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating below 69.00. Possibly, today the pair may correct to reach 69.60 and then start a new decline with the short-term target at 67.57.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is falling; after rebounding from 107.44, it is forming another descending structure towards 106.60. After that, the instrument may start a new growth to break 107.44 and then continue the correction with the target at 108.20.

USDCHF, “US Dollar vs Swiss Franc”

After rebounding from 0.9464 to the downside, USDCHF is expected to fall towards 0.9414. Later, the market may form one more ascending structure to break 0.9484 and then continue the correction with the target at 0.9566.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming a new descending wave towards 0.6903. After that, the instrument may correct to reach 0.6986, thus forming a wide consolidation range around this level. If later the price breaks the range to the downside, the market may start another decline with the target at 0.6747.

BRENT

Brent is still consolidating around 41.00. Today, the pair may correct towards 38.80 and then resume trading upwards with the short-term target at 43.43.

XAUUSD, “Gold vs US Dollar”

Gold has rebounded from 1707.50. Possibly, the pair may grow to reach 1741.90 and then form a new descending wave to break 1707.00. After that, the instrument may continue trading inside the downtrend with the target at 1658.30.

BTCUSD, “Bitcoin vs US Dollar”

After breaking the consolidation range to the upside, BTCUSD is expected to reach 10000.00. Later, the market may fall to break 9500.00 and then continue trading downwards with the target at 9100.00.

S&P 500

The Index has broken 3182.2 to the downside. Possibly, today the asset may fall to reach 3120.2 and then start another wave to return to 3182.2, thus forming a new consolidation range. After that, the instrument may break the range to the downside and resume trading downwards with the first target at 3000.3.