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Forex Technical Analysis & Forecast 13.05.2021

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.2071 along with the correction towards 1.2151, EURUSD is falling to break the low of the first descending wave. Possibly, the pair may continue trading within the downtrend with the short-term target at 1.2012. Later, the market may start another correction to reach 1.2080 and test it from below.

Forex Technical Analysis & Forecast 13.05.2021 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 falling towards 1.4027. Later, the market may correct to reach 1.4087 and then resume falling with the first target at 1.4010.

Forex Technical Analysis & Forecast 13.05.2021 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 74.50. Today, the pair may continue trading within the downtrend with the short-term target at 73.40.

Forex Technical Analysis & Forecast 13.05.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After breaking 109.39 to the upside, USDJPY is consolidating above this level. Possibly, the pair may resume trading upwards with the short-term target at 110.40.

Forex Technical Analysis & Forecast 13.05.2021 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 0.9078 along with the correction towards 0.9029, USDCHF is forming a new consolidation range around 0.9088. After that, the instrument may resume growing with the short-term target at 0.9146.

Forex Technical Analysis & Forecast 13.05.2021 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 0.7730, AUDUSD is expected to continue trading within the downtrend with the short-term target at 0.7649.

Forex Technical Analysis & Forecast 13.05.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing another ascending wave at 69.74, Brent is correcting towards 68.05. After that, the instrument may form one more ascending structure with the target at 70.90.

Forex Technical Analysis & Forecast 13.05.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GOLD

After finishing the correction at 1817.22, Gold is consolidating above this level. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 1863.00; if to the downside – continue the correction to reach 1780.00.

Forex Technical Analysis & Forecast 13.05.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After completing the descending wave at 4144.8 and then forming a new consolidation there, the S&P index has broken it to the downside. Possibly, today the asset may fall to each 4047.0 and then start another correction to test 4144.8 from below.

Forex Technical Analysis & Forecast 13.05.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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