Forex Technical Analysis & Forecast 25.12.2020
EURUSD, “Euro vs US Dollar”
EURUSD is still consolidating around 1.2184; this entire structure may be considered as the fifth wave with the target at 1.2300. After the market opening, the pair may correct towards 1.2050 and then start another growth to reach the above-mentioned target. After that, the instrument may correct again to return to 1.2050.
GBPUSD, “Great Britain Pound vs US Dollar”
After reaching the short-term upside target at 1.3614, GBPUSD is expected to correct towards 1.3463. Later, the market may form one more ascending structure to reach 1.3723 and then start another correction with the target at 1.3463.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still falling towards the first target at 73.70. After that, the instrument may start another correction to reach 74.84 and then resume trading downwards with the target at 72.22.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the correction at 103.75. Possibly, the pair may form a new descending structure to break 103.23 and then continue trading downwards with the short-term target at 102.70.
USDCHF, “US Dollar vs Swiss Franc”
After breaking 0.8898 to the upside, USDCHF is expected to continue the correction towards 0.8926. Later, the market may start another decline to return to 0.8898 and then resume trading upwards with the short-term target at 0.8950.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has broken 0.7590 to the upside. Possibly, today the pair may continue trading upwards to reach 0.7619 and then start a new correction with the target at 0.7568.
BRENT
After breaking 50.69, Brent is forming a consolidation range above this level. Possibly, the asset may continue trading upwards with the short-term target at 52.30.
XAUUSD, “Gold vs US Dollar”
After finishing the ascending wave at 1875.00, Gold is consolidating around this level. Possibly, today the metal may break the range to the downside and reach 1853.90. After that, the instrument may break this level as well and continue trading downwards with the target at 1780.00.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is still consolidating above 23000.00. Possibly, today the asset may fall to reach the first target at 21700.00 and then correct to return to 23000.00. Later, the market may resume trading downwards to break 21700.00 and then continue falling with the target at 20600.00.
S&P 500
The S&P index is still consolidating above 3671.0. Today, the asset may fall to reach 3671.0. Later, the market may form one more ascending structure with the target at 3735.5 and then start a new decline towards 3600.0.
