Forex Technical Analysis & Forecast 18.11.2020
EURUSD, “Euro vs US Dollar”
After completing the ascending wave at 1.1890, EURUSD is expected to correct towards 1.1815. Later, the market may grow to break 1.1890 and then continue moving within the uptrend with the target at 1.1970.
GBPUSD, “Great Britain Pound vs US Dollar”
After breaking 1.3241 to the upside, GBPUSD is consolidating above this level. Possibly, the pair may continue growing to reach 1.3303 and then start a new correction to return to 1.3241. After that, the instrument may form one more ascending structure with the target at 1.3360.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has broken 76.70 downwards. Today, the pair may fall towards 75.66 and then correct to reach 76.70. Later, the market may start a new decline with the target at 74.66.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still falling towards 104.00. Possibly, today the pair may reach this level and then start another correction towards 104.55. After that, the instrument may form a new descending structure with the target at 102.50.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating around 0.9109. Possibly, the pair may expand the range down to 0.9066 and then grow to return to 0.9109. If the price breaks this range to the downside, the market may resume falling with the target at 0.9030; if to the upside – start another growth towards 0.9150.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the correctional wave at 0.7290, AUDUSD is forming a new consolidation range around this level. If later the price breaks this range to the downside, the market may start a new decline with the target at 0.7254; if to the upside – form one more ascending structure to reach 0.7361.
BRENT
After completing the ascending wave at 44.70 along with the correction towards 43.20, Brent is expected to grow and reach 45.55. Later, the market may start a new correction towards 44.50 and then resume trading upwards with the target at 48.50.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1877.80. Possibly, the metal may move upwards to reach 1905.00 and then start a new decline towards 1840.00. After that, the instrument may form one more ascending wave with the target at 1903.00.
BTCUSD, “Bitcoin vs US Dollar”
After reaching the predicted target at 17800.00, BTCUSD continues moving up0wards; right now, it is consolidating around the above-mentioned level. Possibly, today the asset may grow towards 18800.00 and then resume trading downwards with the target at 15800.00.
S&P 500
The S&P index is still consolidating around 3588.0. Today, the asset may grow towards 3658.5 and then start a new correction with the target at 3500.0.
