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Forex Technical Analysis & Forecast 12.08.2020

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1807 and then rebounding from this level to the downside, EURUSD is still moving downwards and this decline may be considered as the fifth wave with the target at 1.1698. After that, the instrument may form one more ascending structure to reach 1.1800.

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 finishing the ascending wave at 1.3113 and then rebounding to the downside, GBPUSD is still moving downwards; this decline may be considered as the fifth wave with the target at 1.2993. Later, the market may resume trading upwards to reach 1.3110.

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 falling to reach 72.30. Later, the market may correct towards 73.00 and then start another decline to break 71.30 and then continue trading downwards with the short-term target at 70.80.

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 rebounding from 105.95, USDJPY is growing to reach 106.79. After that, the instrument may form a new descending structure to break 106.40 and then continue trading downwards with the target at 105.95.

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 rebounding from 0.9106, USDCHF is growing towards 0.9222. Later, the market may form a new descending structure to test 0.9164 from above.

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 the descending wave at 0.7133 and then breaking this level to the downside, AUDUSD is still falling to reach 0.7070. After that, the instrument may resume trading upwards with the target at 0.7133.

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

BRENT

After reaching 45.98 and then completing the correction at 44.67, Brent is expected to move upwards and break 45.45. Later, the market may continue growing with the target at 46.90.

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 1995.30 and then forming a new consolidation range around this level, Gold has broken 1980.00 downwards to form a downside continuation pattern and reach the target at 1915.00; right now, it is consolidating below the latter level. Possibly, the pair may start another growth to break 1928.50 and then continue trading upwards as a correction with the target at 1960.60.

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

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending wave at 11400.00, BTCUSD is trading to break this level downwards. Possibly, the asset may reach 10900.00 and then return to test 11400.00 from below. After that, the instrument may start a new decline towards 10760.00 and then form one more ascending structure to return to 11400.00 once again.

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

S&P 500

After breaking 3354.8 to the downside, the S&P index is expected to reach 3324.0 and then return to 3354.8 to test it from below. However, if the price falls and breaks 3323.3 to the downside, the market may continue trading downwards with the first target at 3237.6.

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


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