Forex Technical Analysis & Forecast 18.06.2020
EURUSD, “Euro vs US Dollar”
EURUSD is still consolidating around 1.1222. Possibly, the pair may expand the range up to 1.1290 and then fall to break 1.1200. Later, the market may continue trading downwards with the short-term target at 1.1160.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD continues consolidating around 1.2575. Today, the pair may form a new descending structure to break 1.2470 and then continue trading downwards with the short-term target at 1.2260.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating around 69.90. Possibly, today the pair may fall to break 69.20 and then continue falling with the target at 68.40 or even 67.50. However, if the price breaks the range to the upside, the market may continue the correction towards 71.00.
USDJPY, “US Dollar vs Japanese Yen”
After breaking 107.10 to the downside and forming a continuation pattern, USDJPY has reached the short-term target at 106.70. Today, the pair may start another growth to test 107.10 from below and then resume trading downwards with the target at 106.59.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.9505. Possibly, today the pair may fall to reach 0.9450 and then form one more ascending structure to break 0.9550. Later, the market may continue trading upwards with the short-term target at 0.9650.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6900. Today, the pair may form a new descending wave towards 0.6800 and then grow to return to 0.6900. If later the price breaks the range to the downside, the market may resume trading downwards with the short-term target at 0.6716.
BRENT
Brent is consolidating above 40.00 without any particular direction. If later the price breaks the range to the downside at 40.00, the market may form a new descending structure to reach 38.60 or even continue the correction towards 35.65; if to the upside at 41.50 – start another growth with the target at 43.43 or even 47.50.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating above 1720.00 without any particular direction. If later the price breaks the range to the upside at 1729.00, the market may form one more ascending structure to reach 1735.20; if to the downside at 1720.00 – start another decline with the target at 1715.00 or even 1697.77.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is consolidating around 9500.00 without any particular direction. Possibly, the pair may expand the range up to 9700.00 and then form a new descending structure to break 9100.00. Later, the market may continue trading inside the downtrend with the target at 8700.00 or even 7800.00.
S&P 500
The Index is consolidating around 3115.0 without any particular direction. Possibly, the asset may expand the range up to 3192.9 and then form a new descending structure to break 3050.5. Later, the market may continue trading downwards with the short-term target at 2962.5. And that’s just a half of another wave within the downtrend.
