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Forex Technical Analysis & Forecast 18.12.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.2270, EURUSD is falling. Possibly, the pair may reach 1.2230 and then start a new correction towards 1.2257, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside; the market may form a new descending structure to reach 1.2140; if to the upside – resume trading upwards with the target at 1.2300.

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 1.3620, GBPUSD is falling. Possibly, today the pair may reach 1.3517 and then start another correction towards 1.3581, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside; the market may form a new descending structure with the first target at 1.3434; if to the upside – resume trading upwards to reach 1.3723.

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 73.37; right now, it is moving close to the downside border. Today, the pair may grow towards 73.33 and then resume moving downwards with the target at 72.20.

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 descending wave at 102.88 along with the correctional structure towards 103.39, USDJPY is expected to grow and to reach 103.51. Later, the market may fall to complete the wave at 102.50 and then resume trading upwards with the first target at 104.14.

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 completing the descending wave at 0.8822 along with the correction towards 0.8850, USDCHF is expected to form another descending structure to reach 0.8811. After that, the instrument may start a new growth with the first target at 0.8900.

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 0.7637, AUDUSD is falling. Possibly, the pair may reach 0.7578 and then form one more ascending structure towards 0.7613, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside; the market may start a new decline with the first target at 0.7500.

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

BRENT

After completing another ascending structure at 51.74, Brent is consolidating near the highs. Possibly, today the asset may form a new descending structure towards 50.33 and then start another correction with the target at 51.00.

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

XAUUSD, “Gold vs US Dollar”

After finishing the ascending wave at 1896.24, Gold is expected to resume falling towards 1849.30 and may later correct to reach 1870.26, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside; the market may resume trading downwards with the target at 1820.60.

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

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending wave at 23700.00, BTCUSD is consolidating below it. If later the price breaks this range to the downside; the market may correct to reach 20700.00; if to the upside – resume trading upwards with the target at 24700.00.

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

S&P 500

After finishing the ascending structure at 3721.0, the S&P index is forming a new consolidation range below this level. If later the price breaks this range to the upside; the market may form one more ascending structure towards 3756.5; if to the downside – start another correction with the target at 3669.0.

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


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