Forex Technical Analysis & Forecast 20.08.2021
EURUSD, “Euro vs US Dollar”
After finishing another descending structure at 1.1665 along with the correction towards 1.1702, EURUSD has formed a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may resume trading downwards with the short-term target at 1.1616; if to the upside – correct towards 1.1740 and then start a new decline to reach the above-mentioned target.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still falling towards 1.3600. After reaching this level, the instrument may correct towards 1.3690 and then fall to reach 1.3650, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may correct with the target at 1.3730; if to the downside – resume trading within the downtrend towards 1.3550.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has finished another ascending structure at 74.15. Possibly, today the pair may consolidate around this level. If later the price breaks this range to the downside, the market may resume trading downwards to break 73.40 and then continue falling with the target at 72.00.
USDJPY, “US Dollar vs Japanese Yen”
After completing descending impulse at 109.50 along with the correction towards 109.85, USDJPY is trading downwards. Possibly, today the pair may fall to break 108.98 and then continue moving within the downtrend with the target at 108.00.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still consolidating above 0.9150. If later the price breaks this range to the upside, the market may resume growing to break 0.9222 and then continue trading upwards with the target at 0.9290.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD continues falling. Today, the pair may reach 0.7117 and then correct to test 0.7240 from below. Later, the market may resume trading within the downtrend with the target at 0.7000.
BRENT
After finishing the descending structure at 65.50, Brent is consolidating above this level. Possibly, the asset may form the first ascending impulse towards 67.47 and then resume falling to reach 66.60, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may resume trading upwards with the first target at 69.30.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1784.00. If later the price breaks this range to the downside, the market may correct towards 1750.00; if to the upside – start a new growth with the short-term target at 1817.00.
S&P 500
After finishing the correctional structure to test 4400.0 from below, the S&P index is consolidating below this level. Possibly, the asset may expand the range up to 4424.0 and then resume falling within the downtrend with the short-term target at 4342.8.
