Forex Technical Analysis & Forecast 28.08.2020
EURUSD, “Euro vs US Dollar”
After finishing the ascending wave at 1.1900 and then another descending impulse towards 1.1762, EURUSD is correcting to the upside. Possibly, the par may complete this correction at 1.1878 and then start a new decline to break 1.1760. Later, the market may continue trading within the downtrend with the short-term target at 1.1660.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the ascending wave at 1.3282 and then the descending impulse towards 1.3160, GBPUSD is correcting to reach 1.3260. After that, the instrument may fall to break 1.3160 and then continue trading downwards with the short-term target at 1.3070.
USDRUB, “US Dollar vs Russian Ruble”
After breaking 75.00 to the downside, USDRUB is consolidating around this level. Possibly, the pair may break the range to the downside and resume trading downwards with the first target at 74.30.
USDJPY, “US Dollar vs Japanese Yen”
After completing the ascending wave at 106.83 and then the descending impulse towards 106.14, USDJPY is expected to consolidate between these levels. If later the price breaks the current range to the downside, the market may resume trading downwards towards 105.60; if to the upside – start another growth with the target at 107.44.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the descending wave at 0.9040 and then the ascending impulse towards 0.9120, USDCHF is correcting to reach 0.9056. After that, the instrument may form one more ascending structure to break 0.9120 and then continue trading upwards with the short-term target at 0.9181.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the ascending wave at 0.7290 and then the descending impulse towards 0.7215, AUDUSD is correcting to return to 0.7290. Later, the market may form a reversal pattern and fall to break 0.7215. After that, the instrument may continue trading downwards with the target at 0.7135.
BRENT
After finishing the descending wave at 45.10 and then the ascending impulse towards 45.80, Brent is consolidating around 45.62. If later the price breaks the current range to the upside, the market may start a new growth to break 45.93 and then continue growing towards 46.80; if to the downside – form a new descending structure with the target at 45.00.
XAUUSD, “Gold vs US Dollar”
After reaching 1974.00 and then finishing the descending impulse towards 1910.00, Gold has completed the correction to reach 1942.00. Today, the pair may resume trading downwards to break 1910.00 and then continue falling with the short-term target at 1874.64.
BTCUSD, “Bitcoin vs US Dollar”
After completing the ascending wave at 11555.00 along with the descending impulse towards 11100.00, BTCUSD is correcting to test 11400.00 from below. Later, the market may resume trading downwards with the short-term target at 11000.00.
S&P 500
After rebounding from 3469.0, the S&P index is still growing towards 3528.0. After that, the instrument may correct to reach 3499.5 and then form one more ascending structure with the target at 3590.0.
