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Forex Technical Analysis & Forecast 11.05.2020

EURUSD, “Euro vs US Dollar”

EURUSD is falling towards 1.0801. Possibly, the pair may reach this level and then start a new correction towards 1.0840, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.0730; if to the upside – choose an alternative scenario to continue the correction to reach 1.0900, but may yet start plummeting at any moment.

Forex Technical Analysis & Forecast 11.05.2020
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 descending impulse along with the correction, GBPUSD is falling again to break 1.2393. After that, the instrument may continue trading downwards towards 1.2343. This movement may be considered as a part of the wave with the target at 1.2307.

Forex Technical Analysis & Forecast 11.05.2020
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 still falling towards 72.50. Later, the market may form one more ascending structure to test 74.00 from below and then resume trading inside the downtrend with the target at 71.30.

Forex Technical Analysis & Forecast 11.05.2020
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 moving upwards. Today, the pair may expand reach 107.10 and then start a new correction towards 106.73. After that, the instrument form one more ascending structure with the target at 107.26.

Forex Technical Analysis & Forecast 11.05.2020
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 0.9700. If later the price breaks this range to the upside at 0.9724, the market may resume trading upwards with the target at 0.9800; if to the downside at 0.9680 – continue the correction towards 0.9655.

Forex Technical Analysis & Forecast 11.05.2020
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. According to the main scenario, the price is expected to grow towards 0.6565 and then start another correction with the target at 0.6470.

Forex Technical Analysis & Forecast 11.05.2020
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 30.70. The main scenario implies that the price may expand the range up to 32.40 and then fall towards 30.70. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 36.03; if to the downside – start a new correction to reach 29.00 and then form one more ascending structure towards 38.20.

Forex Technical Analysis & Forecast 11.05.2020
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has formed the consolidation range around 1709.58; right now, it is trading to expand it down to 1696.76. After that, the instrument may start another growth with the target at 1745.25.

GOLD Forex Technical Analysis & Forecast 11.05.2020
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After completing the correction at 8000.00, BTCUSD is growing to break 8888.00. Later, the market may continue trading upwards to reach 9500.00 and then correct to test 9000.00 from above. After that, the instrument may form one more ascending structure with the target at 9800.00.

BITCOIN Forex Technical Analysis & Forecast 11.05.2020
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After forming the consolidation range around 2900.0 and breaking it to the upside, the Index is expected to trade upwards and reach 2970.0. Later, the market may return to 2900.0 to test it from above and then resume trading upwards with the target at 3027.5.

S&P 500 Forex Technical Analysis & Forecast 11.05.2020
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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