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Forex Technical Analysis & Forecast 28.04.2020

EURUSD, “Euro vs US Dollar”

After finishing the ascending structure at 1.0859, EURUSD is forming a new descending impulse to reach 1.0800 and may later grow towards 1.0830, thus forming a new consolidation range. According to the main scenario, the price is expected to break 1.0800 to the downside and then resume trading inside the downtrend with the short-term target at 1.0730. However, if the pair breaks 1.0860 to the upside, the instrument may choose an alternative scenario and extend the correction up to 1.0915. Later, the market may complete the correction and start a new decline with the key downside target at 1.0707.

EURUSD is forming a new descending impulse to reach 1.0800
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 is falling to reach 1.2340 and may later grow towards 1.2390, thus forming a new consolidation range between these two levels. The main scenario implies that the price is expected to break the range to the downside and then resume falling with the short-term target at 1.2250.

GBPUSD is falling to reach 1.2340
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 consolidating above 74.00. Possibly, today the pair may reach 75.75 and then fall to break 74.00. After that, the instrument may continue trading inside the downtrend with the short-term target at 71.90.

USDRUB is consolidating above 74.00
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending structure at 107.00, USDJPY is moving upwards to reach 107.60 and may later fall towards 107.30, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may fall towards 106.66 and then start another growth with the target at 108.00; if to the upside – resume trading upwards to reach the above-mentioned target.

USDJPY is moving upwards to reach 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”

USDCHF is moving upwards to reach 0.9800. After that, the instrument may form a new descending structure towards 0.9745 and then resume growing with the short-term target at 0.9850.

USDCHF is moving upwards to reach 0.9800
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After forming another consolidation range above 0.6444 and then breaking this level to the downside, AUDUSD is expected to fall towards 0.6363. After that, the instrument may form one more ascending structure to reach 0.6440 and then resume trading downwards with the short-term target at 0.6242.

AUDUSD is expected to fall towards 0.6363
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After forming the consolidating around 25.00 and breaking 23.60 to the downside, Brent continues falling. Possibly, the pair may start a new correction to reach 21.09 and then form one more ascending structure to test 23.60 from below.


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

XAUUSD, “Gold vs US Dollar”

After completing the descending structure at 1702.30, Gold is consolidating not far from this level. Today, the pair may expand the range down to 1695.50 and then start a new growth to test 1720.40 from below.

Gold is consolidating not far from this level
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 consolidating above 7660.00. the main scenario implies that the price may continue growing towards 7857.00. Later, the market may start a new correction to return to 7660.00 and then form one more ascending structure with the target at 8000.00.

BTCUSD is still consolidating above 7660.00
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

S&P 500 is moving upwards; it has reached the short-term target at 2888.8. Possibly, today the pair may correct towards 2825.5 and then continue growing to reach 2933.3. After that, the instrument may start another correction with the target at 2700.2.

S&P 500 is moving upwards
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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