Forex Technical Analysis & Forecast 30.10.2020
EURUSD, “Euro vs US Dollar”
After reaching 1.1650 and finishing the first half of the third descending wave, EURUSD continues falling; right now, it is consolidating above 1.1650. Possibly, the pair may correct towards 1.1700 and then resume trading downwards to break 1.1650 to the downside. The predicted downside target is at 1.1500.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the first half of the descending wave at 1.2900, GBPUSD is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.2700; if to the upside – correct to reach 1.2960.
USDRUB, “US Dollar vs Russian Ruble”
After completing the ascending structure at 79.63, USDRUB is expected to fall and break 78.50. Later, the market may continue moving within the downtrend to reach 76.50 or even 74.25.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the descending structure at 104.02 Today, the pair may fall to reach 103.84 and then correct towards 105.00. After that, the instrument may resume moving within the downtrend with the target at 102.50.
USDCHF, “US Dollar vs Swiss Franc”
After completing the ascending structure at 0.9190, USDCHF is correcting downwards to reach 0.9137. Later, the market may grow to break 0.9180 and then continue trading within the uptrend with the short-term target at 0.9255.
AUDUSD, “Australian Dollar vs US Dollar”
After finishing the descending structure at 0.7001, AUDUSD is expected to start another correction towards 0.7070. After that, the instrument may resume trading within the downtrend with the short-term target at 0.6923.
BRENT
After completing the descending structure at 39.00 and breaking it downwards, Brent has reached 37.41; right now, it is consolidating above the latter level. If later the price breaks this range to the downside, the market may start another decline with the target at 35.10; if to the upside – form one more ascending structure to reach 40.60.
XAUUSD, “Gold vs US Dollar”
Gold has completed the descending structure at 1872.00; right now, it is consolidating around this level. Possibly, today the pair may break the range to the downside and continue trading within the downtrend with the short-term target at 1834.76. Later, the market may correct to test 1872.00 from below and then start another decline to reach 1813.00.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is still consolidating around 13450.00. Possibly, the asset may expand the range up to 13570 and then form a new descending structure with the target at 12700.00.
S&P 500
The S&P index is still consolidating around 3275.0. Today, the asset may break this range to the downside and reach 3215.0. Later, the market may start a new correction to return to 3275.0 and then resume trading within the downtrend with the target at 3150.0.
