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Forex Technical Analysis & Forecast 20.11.2020

EURUSD, “Euro vs US Dollar”

After completing the correction at 1.1815 along with another ascending structure towards 1.1880, EURUSD is still consolidating below the latter level. Possibly, the pair may fall to reach 1.1850 and then start another growth to break 1.1882. Later, the market may continue moving within the uptrend with the target at 1.1915 or even extend this structure to reach 1.2030.

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 is still consolidating around 1.3232. Possibly, today the pair may grow to reach 1.3290 and then start a new correction towards 1.3240. After that, the instrument may resume growing to break 1.3315 and then continue trading upwards with the target at 1.3366.

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 has finished the correctional wave at 76.66. Today, the pair may fall to break 75.00 and then continue trading downwards with the first target at 74.60.

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 correction at 104.15 and then rebounding from this level to the downside, USDJPY continues trading downwards to reach 103.30. After that, the instrument may start another growth to reach 103.90 and then form a new descending structure with the target at 102.50.

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 still falling with the target at 0.9090. Later, the market may correct to reach 0.9119 and then resume falling towards 0.9065.

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 descending wave at 0.7256, AUDUSD has returned to 0.7292. Today, the pair may consolidate below the latter level. If later the price breaks this range to the downside, the market may resume falling with the target at 0.7244; if to the upside – start another growth towards 0.7339.

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

BRENT

Brent is still consolidating around 44.24 without any particular direction. If the price breaks this range to the downside, the market may correct towards 42.40 and then resume growing with the target at 48.50; if to the upside – start another growth to break 45.45 and then continue trading upwards to reach the above-mentioned target.

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 consolidating around 1866.26. Possibly, the metal may grow towards 1875.00 and then resume moving downwards to reach 1846.66. After that, the instrument may form one more ascending wave towards 1865.00 and then start a new decline with the target at 1840.00.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 17800.00. If the price breaks this range to the downside, the market may correct towards 15800.00 and then resume growing with the target at 18800.00; if to the upside – start another growth to reach the above-mentioned target.

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

S&P 500

After completing the correction at 3580.0, the S&P index is consolidating around 3566.0. Possibly, the asset may start growing towards 3585.0 and then fall to return to 3566.0. If the price breaks this range to the downside, the market may form a new descending structure with the target at 3526.0; if to the upside – start another growth to reach 3656.8.

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


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