Forex Technical Analysis & Forecast 23.07.2020
EURUSD, “Euro vs US Dollar”
After breaking 1.1555 and expanding the range up to 1.1600, EURUSD is consolidating below this level. Possibly, the pair may expand the range up to 1.1640. However, if the price breaks 1.1560 to the downside, the market may correct towards 1.1500 or even continue falling with the first target at 1.1414.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the correction at 1.2640, GBPUSD is forming another ascending impulse towards 1.2800; it has already reached 1.2722, and right now is consolidating above this level. The main scenario implies that the price may grow towards 1.2757 and then return to 1.2722. After that, the instrument may form one more ascending structure to complete the wave at 1.2800 and then start a new correction to the downside.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is correcting towards 71.30. After that, the instrument may resume falling to break 70.60 and then continue trading downwards with the short-term target at 69.40.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the ascending correctional structure at 107.15. Possibly, today the pair may resume trading downwards with the target at 106.50.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues falling. Possibly, the pair may reach 0.9270 and then start another growth to break 0.9320. After that, the instrument may continue trading upwards with the target at 0.9360.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating above 0.7125. Today, the pair may fall towards 0.7040. If later the price breaks this level to the downside, the market may continue falling with the target at 0.6980.
BRENT
Brent is moving to break 44.60 to the upside. Possibly, the pair may continue growing to reach 45.80 and then start a new correction to return to 44.60. Later, the market may form one more ascending structure with the target at 46.50.
XAUUSD, “Gold vs US Dollar”
After completing the correction at 1846.00, Gold is growing towards 1878.00. Possibly, today the pair may fall and test 1862.30 from above. After that, the instrument may return to 1878.00 to finish the uptrend and then start a new correction with the target at 1815.00.
BTCUSD, “Bitcoin vs US Dollar”
After finishing the ascending structure at 9544.00, BTCUSD is expected to consolidate there. If later the price breaks this range to the downside, the market may correct towards 9260.00 and then resume trading upwards with the target at 9400.00.
S&P 500
After completing the correction at 3242.2, the S&P 500 Index is forming one more ascending structure to reach 3300.3. After that, the instrument may start a new decline with the first target at 3200.2.
