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Forex Technical Analysis & Forecast 19.08.2020

EURUSD, “Euro vs US Dollar”

After finishing the ascending structure at 1.1894 and then forming a new consolidation range around this level, EURUSD has broken it to the upside to reach 1.1964 and may continue trading upwards with the target at 1.2080. Today, the pair may fall to test 1.1906 from above and then form one more ascending structure to reach the above-mentioned target. However, if the price rebounds from 1.1950 and breaks 1.1900, the market may start another correction towards 1.1850.

Forex Technical Analysis & Forecast 19.08.2020 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 ascending wave at 1.3263, GBPUSD is falling towards 1.3208 and may later grow to reach 1.3232, thus forming a new consolidation range. If the price breaks this range to the downside, the market may start a new correction towards 1,3155; if to the upside – expand the range up to 1.3300.

Forex Technical Analysis & Forecast 19.08.2020 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 consolidating around 73.33 without any particular direction. According to the main scenario, the price is expected to fall and break 72.82. After that, the instrument may continue trading downwards with the short-term target at 71.91.

Forex Technical Analysis & Forecast 19.08.2020 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 completing the descending wave at 105.10, USDJPY growing to test 106.00 from below. Later, the market may form a new descending structure with the first target at 104.84.

Forex Technical Analysis & Forecast 19.08.2020 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 breaking 0.9070 to the downside, USDCHF has reached 0.9020. Possibly, today the pair may return to 0.9070 and test it from below. After that, the instrument may resume moving downwards with the target at 0.9000.

Forex Technical Analysis & Forecast 19.08.2020 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 finishing the ascending wave at 0.7262, AUDUSD has completed the descending impulse along with the correction. Possibly, the pair may break the low of this impulse and then continue falling towards 0.7188. Later, the market may form one more ascending structure with the target at 0.7272.

Forex Technical Analysis & Forecast 19.08.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating above 45.20. Today, the pair may grow towards 46.00 and then start a new correction to reach 45.60. After that, the instrument may resume trading upwards with the target at 47.00.

Forex Technical Analysis & Forecast 19.08.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending wave at 2011.00 along with the correction towards 1981.00; right now, it is consolidating around 1995.00. Possibly, the pair may break the range to the upside and finish this wave at 2020.70. After that, the instrument may start another correction with the target at 1942.15.

Forex Technical Analysis & Forecast 19.08.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending correction at 11630.00, BTCUSD is expected to grow towards 12000.00 and may later fall to reach 11800.00, thus forming a new consolidation range. If later the price breaks this range to the upside at 12000.00, the market may start a new growth to reach 12600.00; if to the downside at 11600.00 – continue the correction with the target at 11000.00.

Forex Technical Analysis & Forecast 19.08.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After rebounding from 3377.9, the S&P index is moving upwards to reach 3402.1. Later, the market may start a new correction towards 3378.0 and then resume moving upwards with the target at 3417.0.

Forex Technical Analysis & Forecast 19.08.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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