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Forex Technical Analysis & Forecast 18.05.2020

EURUSD, “Euro vs US Dollar”

After completing the descending impulse at 1.0803 along with the correction towards 1.0825, EURUSD is expected to form a new descending impulse to break 1.0802. After that, the instrument may continue falling to reach 1.0777. And that’s just a half of another descending wave. The key downside target is at 1.0700.

Forex Technical Analysis & Forecast 18.05.2020 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”

GBPUSD has broken 1.2133 and is expected to continue falling inside the downtrend with the target at 1.2033. Possibly, today the pair may correct towards 1.2133. After that, the instrument may rebound from this level and then resume trading to reach the above-mentioned target.

Forex Technical Analysis & Forecast 18.05.2020 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 continues falling towards 72.50. Today, the pair may reach it and then start another correction towards 74.00. Later, the market may resume trading inside the downtrend with the target at 71.30.

Forex Technical Analysis & Forecast 18.05.2020 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 107.03. Possibly, today the pair may resume falling to break 106.82 and then continue trading downwards with the target at 106.60.

Forex Technical Analysis & Forecast 18.05.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending impulse at 0.9735 along with the correction towards 0.9710, USDCHF is expected to grow to break 0.9735. Later, the market may continue trading upwards with the target at 0.9760.

Forex Technical Analysis & Forecast 18.05.2020 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 completing another descending impulse at 0.6404, AUDUSD has corrected towards 0.6444 to test it from below. According to the main scenario, the price may resume trading downwards with the short-term target at 0.6363.

Forex Technical Analysis & Forecast 18.05.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 32.15, Brent is still moving upwards to reach 34.74. After that, the instrument may form a new descending structure towards 32.15 and then start another growth with the short-term target at 36.80.

Forex Technical Analysis & Forecast 18.05.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still trading upwards; it has already broken 1751.50 and may continue growing to reach 1773.17. Later, the market may start a new correction with the short-term target at 1751.50.

Forex Technical Analysis & Forecast 18.05.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD continue growing. Possibly, today the pair may reach 10040.00 and then start another correction to reach 9600.00. After that, the instrument may resume trading upwards with the target at 10150.00.

Forex Technical Analysis & Forecast 18.05.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The Index is trading to break 2879.2 to the upside. The main scenario implies that the price may continue trading upwards with the short-term target at 2935.0. Later, the market may correct towards 2879.2 and then form one more ascending structure to reach 2983.3.

Forex Technical Analysis & Forecast 18.05.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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