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Forex Technical Analysis & Forecast 12.05.2020

EURUSD, “Euro vs US Dollar”

EURUSD has finished the descending wave at 1.0790; right now, it is growing towards 1.0830. Possibly, the pair may reach this level and then resume trading downwards with the short-term target at 1.0763.

Forex Technical Analysis & Forecast 12.05.2020 EURUSD
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 wave at 1.2300, GBPUSD is correcting to reach 1.2365. After that, the instrument may continue trading downwards with the short-term target at 1.2255.

Forex Technical Analysis & Forecast 12.05.2020 GBPUSD
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 12.05.2020 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After extending the ascending wave and reaching 107.75, USDJPY is correcting towards 106.95. After that, the instrument form one more ascending structure with the target at 107.36.

Forex Technical Analysis & Forecast 12.05.2020 USDJPY
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 falling towards 0.9717. Later, the market may resume trading upwards with the target at 0.9755.

Forex Technical Analysis & Forecast 12.05.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the downside target at 0.6464, AUDUSD is growing towards 0.6495. According to the main scenario, the price is expected to reach this level and then start another decline with the target at 0.6426.

Forex Technical Analysis & Forecast 12.05.2020 AUDUSD
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 and forming a Triangle pattern. If later the price breaks this pattern to the downside, the market may start a new correction with the target at 27.00; if to the upside – form one more ascending structure towards 36.03.

Forex Technical Analysis & Forecast 12.05.2020 BRENT
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 wave at 1691.75, Gold is trading upwards to reach 1709.37 and may later start another decline towards 1699.90, thus forming a new consolidation range. If the price breaks this range to the upside, the market may resume growing with the target at 1755.50.

Forex Technical Analysis & Forecast 12.05.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 8700.00. Possibly, today the pair may trade upwards to reach 9400.00 and then form a new descending structure towards 8700.00. After that, the instrument may start another growth with the target at 9900.00.

Forex Technical Analysis & Forecast 12.05.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After returning to 2904.9, the Index is growing towards 2970.3. Later, the market may resume trading downwards to test 2905.0 from above.

Forex Technical Analysis & Forecast 12.05.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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