Forex Technical Analysis & Forecast 24.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After breaking the consolidation range upwards and reaching the short-term target at 1.0857, EURUSD is moving downwards. Possibly, today the pair may test 1.0818 from above and then form one more ascending structure to reach 1.0865. After that, the instrument may start a new correction to return to 1.0818.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has reached the short-term upside target at 1.2978; right now, it is falling towards 1.2925. Later, the market may start a new growth to reach 1.3003.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the descending wave at 0.9777, USDCHF has completed one more ascending structure towards 0.9808. The main scenario implies that the pair may fall to reach 0.9766 and then grow with the target at 0.9851.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the descending wave towards 111.40. Today, the pair may correct towards 111.82 and then start another decline with the target at 111.11.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the correction at 0.6638; right now, it is falling towards 0.6575. Possibly, today the pair may reach this level and then start another continue the correction with the target at 0.6660.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is moving downwards to reach 64.10. After that, the instrument may grow towards 64.40, thus forming a new consolidation range between these two levels. Later, the market may expand the range up to 64.50 and then resume trading inside the downtrend with the first target at 63.60.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is still consolidating around 1.3245. Possibly, today the pair may grow towards 1.3288 and then form a new descending structure to reach 1.3162.
XAUUSD, “Gold vs US Dollar”
Gold has reached 1680.00; right now, it is moving downwards with the target at 1649.33. Later, the market may form one more ascending structure towards 1663.63.
BRENT
After forming the consolidation range around 58.35 and breaking it to the downside, Brent has reached 56.70. Possibly, the pair may form one more ascending structure to return to 58.35 and then resume trading downwards with the target at 57.40.
BTCUSD, “Bitcoin vs US Dollar”
After completing the correction towards 9990.00, BTCUSD has finished the descending structure at 9600.00, thus forming a new consolidation range between these two levels. Possibly, today the pair may break the range to the downside and then continue trading downwards with the short-term target at 8900.00.
