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Forex Technical Analysis & Forecast 14.07.2020

EURUSD, “Euro vs US Dollar”

EURUSD is still moving upwards to reach 1.1380. Possibly, the pair may reach it and then form a new descending structure towards 1.1314 and then start another growth to reach 1.1350, thus forming a new consolidating range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1225; if to the upside – form one more ascending structure towards 1.1400.

Forex Technical Analysis & Forecast 14.07.2020 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 breaking 1.2586 to the downside, GBPUSD is still moving downwards. Possibly, today the pair may test the above-mentioned level from below and then start a new decline to reach 1.2509. Later, the market may form one more ascending structure to return to 1.2586.

Forex Technical Analysis & Forecast 14.07.2020 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After breaking 70.66, USDRUB is expected to continue falling towards 69.94. Later, the market may form one more ascending structure to reach 71.09 and then start a new decline with the target at 69.00.

Forex Technical Analysis & Forecast 14.07.2020 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 finishing the ascending wave at 107.07 and forming an upside continuation pattern around this level, USDJPY has broken 107.10 to reach the short-term target at 107.31; right now, it is trading around 107.20. Possibly, the pair may form a new descending structure to return to 107.07 and then start another growth to reach 107.50. Later, the market may resume falling with the target at 106.90.

Forex Technical Analysis & Forecast 14.07.2020 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 consolidating around 0.9414. Today, the pair may grow to reach 0.9440 and then fall towards 0.9400, thus forming a new consolidating range. The main scenario implies that the price may break this range to the upside at 0.9440 and form one more ascending structure with the target at 0.9550.

Forex Technical Analysis & Forecast 14.07.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6964; it as already reached the downside border of the range at 0.6926 and right now is growing to break 0.6964. Later, the market may continue trading upwards to expand the range up to 0.7000.

Forex Technical Analysis & Forecast 14.07.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing another correctional structure at 42.00, Brent is expected to form one more ascending wave to break 43.50. Later, the market may continue moving upwards with the short-term target at 45.00 and then start a new decline to test 43.50 from above.

Forex Technical Analysis & Forecast 14.07.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After breaking 1802.50, Gold is still falling towards 1794.00. Later, the market may form one more ascending structure to return to 1802.00 to test it from below and then start another decline with the target at 1792.50.

Forex Technical Analysis & Forecast 14.07.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After breaking 9180.00, BTCUSD is still falling towards 9060.00. After that, the instrument may correct to test 9180.00 from below and then start a new decline with the target at 8700.00.

Forex Technical Analysis & Forecast 14.07.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After reaching the short-term upside target at 3236.4, the S&P 500 Index is correcting to reach 3145.7. After that, the instrument may form one more ascending structure to reach 3240.4 and then resume trading downwards with the target at 3117.7.

Forex Technical Analysis & Forecast 14.07.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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