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Forex Technical Analysis & Forecast 04.11.2020

EURUSD, “Euro vs US Dollar”

After finishing the correctional structure at 1.1760, EURUSD is falling towards 1.1620. Possibly, today the pair may break this level to the downside and continue trading downwards with the target at 1.1550. Later, the market may correct to reach 1.1666 and then form a new descending structure towards 1.1425.

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 finished the correction at 1.3120; right now, it is falling to break 1.2980. After that, the instrument may continue trading downwards with the target at 1.2855 and then correct towards 1.2950. Later, the market may start a new decline to reach 1.2717.

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 79.77, USDRUB is still falling towards 78.60 and may start another correction to reach 79.90. After that, the instrument may resume moving within the downtrend with the target at 76.00.

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 has completed the correction at 105.25; right now, it is falling. Possibly, the pair may fall to break 104.40 and then continue trading within the downtrend with the short-term target at 103.45.

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 has completed the ascending wave at 0.9205 along with the correction towards 0.9094; right now, it is growing to break 0.9175 and may later continue trading within the uptrend with the short-term target at 0.9262. After that, the instrument may correct to return to 0.9175 and then form one more ascending structure with the first target at 0.9320.

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 ascending correction at 0.7222, AUDUSD is expected to resume falling and break 0.7107. Later, the market may continue trading downwards with the target at 0.6988. And that’s just a half of another descending wave. The key downside target is at 0.6767.

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

BRENT

After finishing the ascending wave at 39.50 and then forming a new consolidation range around this level, Brent has broken it to the upside and may later continue growing to reach 42.70. After that, the instrument may correct towards 39.60 and then form one more ascending structure with the target at 45.76.

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 finished the ascending correctional structure at 1910.90. Today, the metal may fall to break 1879.00 and then continue trading within the downtrend with the short-term target at 1841.95.

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

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending structure at 13600.00 and breaking it upwards, BTCUSD has reached 14000.00 to complete a Double Top pattern. Possibly, today the asset may move downwards to break 13600.00 and then continue falling with the target at 13200.00 or even reach 12900.00. However, an alternative scenario implies that the instrument may rebound from 13600.00 and form one more ascending wave towards 14250.00.

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

S&P 500

The S&P index has broken its consolidation range to the upside; right now, it is forming one more ascending structure to wards 3444.0. After that, the instrument may resume trading within the downtrend with the target at 3200.0 or even reach 3150.6.

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


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