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Forex Technical Analysis & Forecast 24.04.2020

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.0844 and then rebounding from this level, EURUSD continues forming the fifth descending wave with the target at 1.0747; it has already completed the descending impulse at 1.0775. Possibly, the pair may form a new consolidation range around this level, which may be considered as a downside continuation pattern. Later, the market may break 1.0760 downwards and continue falling to reach the above-mentioned target or even extend this wave down to 1.0700.

EURUSD continues forming the fifth descending wave with the target at 1.0747
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the correction at 1.2420, GBPUSD is falling towards 1.2300. Possibly, today the pair may reach it and then start a new correction towards 1.2355. After that, the instrument may start another decline to break the short-term target at 1.2255 and then continue moving downwards to reach 1.2190.

GBPUSD is falling towards 1.2300
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 forming a new descending impulse towards 73.50 and may later grow to reach 75.50, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may resume trading inside the downtrend to break 71.55 and then continue falling with the target at 69.55.

USDRUB may later grow to reach 75.50
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending structure towards 107.97 along with the descending impulse at 107.50, USDJPY is consolidating around 107.60. Possibly, the pair may break the range to the downside to reach 107.17. After that, the instrument may resume growing with the target at 108.55.

USDJPY is consolidating around 107.60
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After rebounding from 0.9710, USDCHF continues growing with the target at 0.9785. Later, the market may correct towards 0.9750 and then form one more ascending structure to reach 0.9800.

USDCHF continues growing with the target at 0.9785
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the correction at 0.6400, AUDUSD is falling towards 0.6288. After that, the instrument may correct to reach 0.6340 and then resume trading inside the downtrend with the short-term target at 0.6233.

AUDUSD is falling towards 0.6288
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is consolidating around 25.00. Today, the pair may form one more ascending impulse towards 27.05 and then fall to return to 25.00 or even start a new correction with the target at 21.00. However, if the price grows and breaks 27.05, the market may resume trading upwards with the first target at 34.34.

Brent is consolidating around 25.00
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1729.50. Today, the pair may break the range to the downside and fall with the first target at 1702.70. After that, the instrument may start another growth to reach 1720.40.

Gold is still consolidating around 1729.50
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After reaching the target at 7550.00, BTCUSD is consolidating at this level. According to the main scenario, the price may start a new correction to reach 6700.00 and then form one more ascending structure towards 8500.00.

BITCOIN is consolidating at this level.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After finishing the ascending impulse at 2845.0, S&P 500 has completed the correction towards 2772.3. Possibly, today the price may resume growing towards 2927.5 and then start another correction with the target at 2660.5.

S&P500 has completed the correction towards 2772.3
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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