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Forex Technical Analysis & Forecast 12.05.2021

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating; it has expanded this range up to 1.2181 and is currently falling towards 1.2110. Later, the market may start another correction to reach 1.2145 and then resume trading downwards with the target at 1.2072.

Forex Technical Analysis & Forecast 12.05.2021 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 at the top. Possibly, today the pair may fall to reach 1.4052 and then start a new correction towards 1.4110. Later, the market may resume falling with the target at 1.3982.

Forex Technical Analysis & Forecast 12.05.2021 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 completed the correctional wave at 74.40. Today, the pair may continue trading within the downtrend with the target at 73.00.

Forex Technical Analysis & Forecast 12.05.2021 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 is still consolidating around 108.66. Possibly, the pair may start a new growth to reach 109.15 and then resume trading downwards with the target at 107.80.

Forex Technical Analysis & Forecast 12.05.2021 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 ascending impulse at 0.9031 along with the correction towards 0.9003, USDCHF is forming one more ascending structure to reach 0.9103. After that, the instrument may start a new correction to reach 0.9051 and then resume growing with the first target at 0.9130.

Forex Technical Analysis & Forecast 12.05.2021 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 0.7810 and breaking this level to the downside, AUDUSD is still falling towards 0.7757. Later, the market may correct to test 0.7810 from below and then resume falling with the first target at 0.7719.

Forex Technical Analysis & Forecast 12.05.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing another descending wave at 67.00 along with the ascending wave towards 68.30, Brent is consolidating around the later level. If later the price breaks this range to the upside, the market may resume growing to reach and the start another correction to return to 68.30. After that, the instrument may form one more ascending structure with the target at 70.00.

BRENTForex Technical Analysis & Forecast 12.05.2021
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 1831.60. Possibly, the metal may expand the range down to 1817.00 and then resume trading upwards with the short-term target at 1863.73.

Forex Technical Analysis & Forecast 12.05.2021 GOLD
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 reached the downside target at 4112.0. Possibly, today the asset may resume growing towards 4174.0 and then form a new descending structure with the first target at 4103.0. After that, the instrument may start another correction to return to 4174.0.

Forex Technical Analysis & Forecast 12.05.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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