Forex Technical Analysis & Forecast 13.10.2020
EURUSD, “Euro vs US Dollar”
EURUSD is still consolidating below 1.1820. Possibly, the pair may break the range to the downside at 1.1790 and start a new correction to reach 1.1750. Later, the market may form one more ascending structure with the target at 1.1888. After that, the instrument may resume trading downwards to break 1.1750 and then continue falling towards 1.1584.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating around 1.3033 and forming a Divergent Triangle pattern. Today, the pair may fall towards 1.2982 and then start another growth with the target at 1.3155. After that, the instrument may resume trading downwards to reach 1.2900.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB continues falling towards 76.40. After reaching this level, the instrument may correct towards 77.30 and then resume falling with the target at 76.04. Later, the market may start another correction to reach 78.15.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still falling with the target at 105.00. After that, the instrument may grow towards 105.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may start another decline to reach 104.40; if to the upside – resume trading upwards with the target at 106.00.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.9105. Today, the pair may break the range to the upside and form one more ascending structure towards 0.9130. Later, the market may resume falling with the target at 0.9055 and then start another growth to reach 0.9175.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the correctional structure at 0.7175, AUDUSD is expected to resume growing towards 0.7255. If later the price breaks this level, the instrument may continue trading upwards with the target at 0.7306.
BRENT
After forming another consolidation range around 42.60 and breaking it to the downside, Brent is expected to continue the correction towards 41.50. Later, the market may resume growing with the first target at 44.22.
XAUUSD, “Gold vs US Dollar”
After breaking 1920.00. Gold is still correcting towards 1907.50. Later, the market may form one more ascending structure to reach 1935.66 and then fall to test 1920.00 from above. After that, the instrument may start another growth with the target at 1942.00.
BTCUSD, “Bitcoin vs US Dollar”
After completing the ascending structure at 11700.00l, BTCUSD is correcting downwards to reach 10900.00. Later, the market may start another growth with the short-term target at 11800.00.
S&P 500
After completing the ascending wave at 3540.4 and almost reaching the short-term upside target, the S&P index is expected to consolidate around this level. If later the price breaks this range to the downside, the market may a new correction with the target at 3442.5 or even 3366.3. After that, the instrument may form one more ascending structure towards 3590.0.
