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Forex Technical Analysis & Forecast 09.04.2020

EURUSD, “Euro vs US Dollar”

After reaching the short-term downside target at 1.0830 and finishing the correction towards 1.0880, EURUSD is expected to form a new descending structure to reach 1.0820. After that, the instrument may form one more ascending structure towards 1.0933 and then resume moving inside the downtrend with the target at 1.0752.

EURUSD april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues forming a Flag pattern. Possibly, today the pair may reach 1.2144 and then start another growth towards1.2555. Later, the market may resume moving inside the downtrend with the target at 1.2044.

GBPUSD april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9712. Today, the pair may grow to break 0.9725 and then continue trading upwards to reach 0.9740. After that, the instrument may form a new descending structure with the target at 0.9666.

USDCHF april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating below 109.00. Possibly, today the pair may expand the range up to 109.55 and then fall to break 108.22. Later, the market may continue moving inside the downtrend with the target at 105.77.

USDJPY april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards; it has already broken 0.6200. Possibly, the pair may reach 0.6288 and then start a new decline towards 0.6100. After that, the instrument may break this level and continue trading downwards with the target at 0.5822.

AUDUSD april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading around 75.45 without any particular direction. According to the main scenario, the price is expected to fall towards 74.22 and then grow to return to 75.45. Later, the market may resume trading downwards with the short-term target at 71.70.

USDRUB april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has returned to 1.4077. Possibly, today the pair may fall to break 1.3945 and then continue trading downwards with the short-term target at 1.3850.

USDCAD april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1648.80; this movement may be considered as a downside continuation pattern. The main scenario implies that the pair may fall to break 1635.70 and then continue trading inside the downtrend with the short-term target at 1628.50. The key target is at 1615.30.

GOLD april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is consolidating around 31.50; еры movement may be considered as a Flag pattern. Possibly, today the pair may fall towards 29.50 and then start another growth to break 32.50. Later, the market may continue trading upwards with the target at 35.86.

BRENT april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still forming the ascending wave with the target at 7530.00. Later, the market may form the first descending impulse to break 7000.00. After that, the instrument may continue trading with the first correctional target at 6600.00.

BITCOIN april 9
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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