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Forex Technical Analysis & Forecast 01.05.2020

EURUSD, “Euro vs US Dollar”

After finishing the fifth ascending wave at 1.0970, EURUSD is consolidating close to this level. According to the main scenario, the price is expected to expand the range down to 1.0910 and then grow towards 1.0940. After that, the instrument may form a new descending structure to break 1.0910 and then continue trading inside the downtrend with the first target at 1.0847.

EURUSD may 1
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 fifth ascending wave at 1.2638, GBPUSD is forming the first descending impulse towards 1.2525. Later, the market may form one more ascending structure to reach 1.2585 and then resume trading downwards with the first target at 1.2410.

GBPUSD may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After finishing the correction at 74.10 to the downside, USDRUB is expected to resume growing towards 74.45. After that, the instrument may start a new decline with the short-term target at 72.00 and then form one more ascending structure to reach 73.10. Later, the market may resume trading downwards with the first target at 71.30.

USDRUB may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the third ascending structure at 107.44. The main scenario implies that the price may correct towards 106.91 and then form one more ascending structure with the first target at 107.55.

USDJPY may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After breaking the previous consolidation to the downside and then reaching 0.9660, USDCHF is forming a new consolidation range near the lows. Today, the pair may start another growth to break 0.9686 and then continue trading upwards with the target at 0.9733.

USDCHF may 1
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 descending impulse at 0.6494 along with the correction, AUDUSD has broken the low of this impulse; right now, it is still falling with the short-term target at 0.6430. After that, the instrument may form one more ascending structure to test 0.6494 from below and then start a new decline with the first target at 0.6410.

AUDUSD may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 27.00 to the upside, Brent is expected to continue growing towards 32.02. After that, the instrument may correct to return to 27.00 and test it from above. Later, the market may resume trading upwards with the short-term target at 38.18.

BRENT may 1
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 fifth descending correctional wave at 1677.77, Gold has formed the ascending impulse towards 1692.52; right now, it is consolidating. Possibly, the pair may break the top of the first impulse to the upside and then continue growing with the first upside target at 1714.94.

GOLD may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is forming the first descending impulse towards 8300.00. After that, the instrument may correct to reach 8860.00 and then start a new decline with the short-term target at 7994.00.

BITCOIN may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After finishing the third ascending wave at 2971.5, S&P 500 is correcting with the target at 2691.5. Later, the market may form the fifth ascending structure towards 3160.3.

S&P500 may 1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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