Forex Technical Analysis & Forecast 28.07.2020
EURUSD, “Euro vs US Dollar”
After forming the ascending wave at 1.1780, EURUSD is correcting. Possibly, the pair may fall to reach 1.1678 and then form one more ascending structure with the target at 1.1816. Later, the market may resume trading downwards as a correction towards 1.1580.
GBPUSD, “Great Britain Pound vs US Dollar”
After finishing the ascending wave at 1.2904, GBPUSD is expected to correct with the target at 1.2787. After that, the instrument may start a new growth towards 1.2930 and then resume falling as a correction to reach 1.2666.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB continues growing towards 72.04 and may later correct to break 71.66. After that, the instrument may continue trading downwards with the target at 71.28 and then form a wide consolidation range around this level.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the descending wave at 105.10; right now, it is correcting to reach 105.79, at least. Later, the market may resume trading downwards towards 105.04 and then start another correction with the target at 106.16.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is consolidating around 0.9220. Today, the pair may start another growth to break 0.9242 and then continue trading upwards with the short-term target at 0.9296.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the ascending wave at 0.7176, AUDUSD is expected to fall and break 0.7100. After that, the instrument may continue trading downwards with the short-term target at 0.7000.
BRENT
After completing the descending structure at 43.33, Brent has finished the ascending impulse towards 44.10. Possibly, the pair may start another decline towards 43.55 and then grow to break 44.44. Later, the market may continue trading upwards with the short-term target at 45.80.
XAUUSD, “Gold vs US Dollar”
After completing the ascending wave at 1980.66, Gold is correcting towards 1929.50. After that, the instrument may form one more ascending structure with the target at 1993.10 or even 2000.00. Later, the market may correct to reach 1955.50.
BTCUSD, “Bitcoin vs US Dollar”
After reaching 10750.00 and forming an upside continuation pattern, BTCUSD has extended the wave two-fold to reach 11400.00; right now, it is correcting to return to 10750.00. Later, the market may start a new growth towards 11000.00 and then resume trading downwards to break 10700.00. After that, the instrument may form a new descending structure with the target at 10150.00.
S&P 500
After completing the correction at 3250.5, the S&P 500 Index is expected to fall and break 3222.2. After that, the instrument may form a new descending structure to break 3200.0 and then continue trading downwards with the short-term target at 3150.4.
