Forex Technical Analysis & Forecast 26.02.2020
EURUSD, “Euro vs US Dollar”
After updating the high at 1.0888, EURUSD is falling towards 1.0856. Possibly, the pair may reach this level and then start another correction towards 1.0872. Later, the market may form a new descending structure with the short-term target at 1.0840.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed the ascending correction; right now, it is forming a new descending structure towards 1.2970. After that, the instrument may start another growth to reach 1.2993 and then trading downwards with the first target at 1.2929.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the descending structure at 0.9750, USDCHF is trading upwards to reach 0.9799. Later, the market may start a new decline towards 0.9777 and then form one more ascending structure with the target at 0.9815.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is growing towards 111.10. The main scenario implies that the price may reach this level and then resume falling towards 110.60. After that, the instrument may form one more ascending structure with the target at 111.75.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still consolidating around 0.6602 without any particular direction. If later the price breaks this range to the upside, the market may start a new correction towards 0.6666; if to the downside – resume trading inside the downtrend with the target at 0.6540.
USDRUB, “US Dollar vs Russian Ruble”
After completing the descending impulse towards 64.74, USDRUB has returned to 65.57; right now, it is consolidating around 65.25. Possibly, the pair may expand the range up to 65.85 and then start a new decline towards 64.40. After that, the instrument may resume trading upwards with the target at 66.16.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is consolidating around 1.3288. If later the price breaks this range to the upside, the market may start a new growth towards 1.3344; if to the downside – continue the correction with the target at 1.3165.
XAUUSD, “Gold vs US Dollar”
Gold has broken 1641.00 to the downside. Possibly, today the pair may reach 1623.50 and then form one more ascending structure towards 1656.40. Later, the market may start a new decline with the target at 1609.70.
BRENT
Brent is moving downwards. Possibly, today the pair may reach 54.04 and then start another growth towards 55.22. After that, the instrument may form a new descending structure to reach 53.68 and then resume trading upwards with the target at 57.11.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is falling towards 8900.00. Later, the market may start another growth to reach 9600.00 and then resume trading downwards with the target at 8600.00.
