Forex Technical Analysis & Forecast 20.04.2021
EURUSD, “Euro vs US Dollar”
After rebounding from the support area at 1.1944, EURUSD has broken its consolidation range to the upside; right now, it is expected to continue growing towards 1.2100. Later, the market may fall to break 1.1944 and then continue trading downwards with the target at 1.1800.
GBPUSD, “Great Britain Pound vs US Dollar”
After forming a new consolidation range around 1.3840 and breaking it to the upside, GBPUSD is expected to reach 1.4008. After that, the instrument may resume trading downwards with the target at 1.3840.
USDRUB, “US Dollar vs Russian Ruble”
After forming a new consolidation range around 76.00, USDRUB has broken it to the upside and may later correct to reach 76.74. After that, the instrument may form a new descending structure with the target at 75.15.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 108.10. Possibly, the pair may break the range to the upside and form one more ascending structure with the target at 108.85. Later, the market may resume falling to reach 108.38.
USDCHF, “US Dollar vs Swiss Franc”
After completing the ascending impulse at 10.9160 along with the correction towards 0.9134, USDCHF is expected to break this range to the upside and reach 0.9186. Later, the market may start a new decline with the target at 0.9156.
AUDUSD, “Australian Dollar vs US Dollar”
After forming a new consolidation range above 0.7700 and breaking it to the upside, AUDUSD is expected to continue the correction towards 0.78323. However, if the price falls and breaks 0.7700, the market may resume trading within the downtrend to break 0.7560. After that, the instrument may continue falling with the target at 0.7450.
BRENT
Brent continues growing towards 67.40 and may later correct to reach 64.40.After that, the instrument may start a new growth with the target at 70.00.
XAUUSD, “Gold vs US Dollar”
After breaking 1762.16 to the upside, Gold is consolidating above this level. Possibly, the metal may break the range to the upside and resume trading upwards with the short-term target at 1800.00.
S&P 500
After rebounding from 4152.6, the S&P index is expected to continue growing towards 4306.4 to complete this ascending wave. After that, the instrument may form a new consolidation range below the latter level. If later the price beaks this range to the downside, the market may form a new descending structure with the target at 4000.0.
