Forex Technical Analysis & Forecast 28.02.2020
EURUSD, “Euro vs US Dollar”
After completing the ascending wave without any corrections at 1.1006, EURUSD has formed the first descending impulse to reach 1.0964 along with the correction towards 1.1003. Today, the pair may form the second descending impulse to return to 1.0964. After that, the instrument may break this level and then continue trading downwards with the first target at 1.0920.
GBPUSD, “Great Britain Pound vs US Dollar”
After forming a wide consolidation range around 1.2901, GBPUSD is still moving downwards. Possibly, the pair may break 1.2850 and then continue trading inside the downtrend with the target at 1.2786.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the descending wave at 0.9672, USDCHF is consolidating near the lows. Later, the market may break this range to the upside and start another growth with the target at 0.9717.
USDJPY, “US Dollar vs Japanese Yen”
After breaking 109.68, USDJPY is still falling. The main scenario implies that the price may fall to reach 108.74 and then form one more ascending structure with the first target at 110.18.
AUDUSD, “Australian Dollar vs US Dollar”
After rebounding from 0.6593, AUDUSD continues moving downwards with the short-term target at 0.6519. Later, the market may start another correction to reach 0.6558 and then form a new descending structure towards 0.6500.
USDRUB, “US Dollar vs Russian Ruble”
After forming a new consolidation range around 65.71, USDRUB has broken it to the upside. Possibly, the pair may grow to reach 66.96 and then start a new decline towards 65.80. After that, the instrument may form one more ascending structure with the target at 67.27.
USDCAD, “US Dollar vs Canadian Dollar”
After forming another consolidation range around 1.3344, USDCAD has broken it to the upside. Today, the pair may continue the ascending wave towards 1.3481 without any corrections. Later, the market may resume trading downwards to return to 1.3344.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating around 1641.65. Possibly, today the pair may form a new descending structure to break 1623.10 and then continue trading inside the downtrend with the target at 1594.50.
BRENT
Brent is still moving downwards. Today, the pair may reach 50.50 and then start another growth towards 52.44, thus forming a new consolidation range between these two levels. After breaking the range to the upside, the instrument may resume trading upwards with the first target at 54.22.
BTCUSD, “Bitcoin vs US Dollar”
After forming the consolidation range around 8700.00, BTCUSD is trying to break it to the upside. Possibly, the pair may start another growth towards 9225.00 and then form a new descending structure with the target at 8456.00.
