Forex Technical Analysis & Forecast 24.09.2020
EURUSD, “Euro vs US Dollar”
EURUSD continues falling. Possibly, today the pair may reach 1.1650 and then correct towards 1.1680. After that, the instrument may continue trading within the downtrend with the short-term target at 1.1620 and then start another correction to reach 1.1740.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still consolidating around 1,2730; it has expanded the range down to 1.2680 and up to 1.2775 and right now it trading downwards to reach 1.2680. If later the price breaks this level to the downside, the market may continue moving inside the downtrend with the target at 1.2600.
USDRUB, “US Dollar vs Russian Ruble”
After breaking 76.28 to the upside and forming a continuation pattern, USDRUB has reached 76.90. Today, the pair may consolidate below the latter level. If later the price breaks this level to the downside, the instrument may continue trading downwards with the target at 75.71.
USDJPY, “US Dollar vs Japanese Yen”
After completing the ascending wave at 105.44, USDJPY is expected to fall towards 104.84. After that, the instrument may form one more ascending structure to reach 106.00 and finish this correctional wave. Later, the market may start a new decline with the target at 103.25.
USDCHF, “US Dollar vs Swiss Franc”
After breaking 0.9220, USDCHF is expected to continue moving upwards to reach 0.9255 or even 0.9277. Later, the market may with the target at 0.9144.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the descending wave at 0.7080, AUDUSD had broken this level to the downside and may continue falling towards 0.6985. After that, the instrument may resume trading upwards with the target at 0.7200.
BRENT
Brent is still consolidating below 42.60. Possibly, the asset may fall to reach 41.20 and then form one more ascending structure to return to 42.60. If later the price breaks this level to the upside, the market may start a new growth towards 44.11 or even 44.77.
XAUUSD, “Gold vs US Dollar”
Gold is still falling to reach 1850.00. After that, the instrument may consolidate around this level. If later the price breaks this range to the upside, the market may correct towards 1925.00; if to the downside – resume trading within the downtrend and extend this wave down to 1830.00.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is still consolidating around 10300.00. Today, the pair may expand the range down to 10044.00 and then form one more ascending structure to return to 10300.00. Later, the market may continue trading downwards with the target at 9333.00.
S&P 500
After rebounding from 3329.0, the S&P index is falling and forming the third wave within the downtrend to reach 3202.6. After that, the instrument may consolidate near the lows. If later the price breaks this range to the upside, the market may correct towards 3330.0; if to the downside – resume trading within the downtrend with the target at 3050.00.
