Forex Technical Analysis & Forecast 11.08.2020
EURUSD, “Euro vs US Dollar”
After breaking 1.1750 to the downside, EURUSD has almost reached the correctional target at 1.1722. According to the main scenario, the price is expected to grow towards 1.1780 or even break it. After that, the instrument may form one more ascending structure to reach 1.1828 and then resume trading downwards with the target at 1.1780.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.3100 and then returning to 1.3065, GBPUSD is moving upwards. Possibly, the pair may form one more ascending structure to reach 1.3130. Later, the market may start a new decline towards 1.2993 and then resume trading upwards with the target at 1.3222.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating above 73.33. Today, the pair may start another decline to break 72.44 and then continue trading downwards with the short-term target at 71.20.
USDJPY, “US Dollar vs Japanese Yen”
After completing the ascending wave at 106.11 and then finishing the correction towards 105.70, USDJPY is consolidating around 105.99. Possibly, the pair may form one more ascending structure to reach 106.31 and then resume falling break 105.70. After that, the instrument may continue trading downwards with the target at 105.22.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the ascending wave at 0.9183 along with the correction towards 0.9136, USDCHF is consolidating above the latter level. Later, the market may form a new descending structure with the target at 0.9087 and then start another correction to reach 0.9136.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is growing towards 0.7188 and may later form a new descending structure to complete the correction at 0.7133. After that, the instrument may resume trading upwards with the target at 0.7275.
BRENT
Brent is moving upwards. Possibly, today the pair may break 45.45 and then continue trading upwards with the short-term target at 46.26. Later, the market may correct towards 45.50 and then form one more ascending wave to reach 47.30.
XAUUSD, “Gold vs US Dollar”
Gold is still correcting to reach 2010.60. After that, the instrument may start another growth to break 2043.20 and then continue trading upwards with the target at 2088.88.
BTCUSD, “Bitcoin vs US Dollar”
After finishing the ascending wave at 12000.00 along with the correction towards 11400.00, BTCUSD is expected to reach 12350.00 and then resume falling to return to 11400.00. According to the main scenario, the price is expected to form a wide consolidation range around this level.
S&P 500
After rebounding from 3365.1, the S&P index is still moving upwards. Possibly, today the asset may reach 3404.4 and then start a new correction to test 3365.0 from above.
