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Forex Technical Analysis & Forecast 24.05.2021

EURUSD, “Euro vs US Dollar”

After rebounding from 1.2238, EURUSD is falling towards 1.2152 and may later grow to reach 1.2200, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the downside, the market may continue the correction towards 1.2055; if to the upside – start another growth with the target at 1.2322.

Forex Technical Analysis & Forecast 24.05.2021 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”

After rebounding from 1.4218 and then reaching 1.4155, GBPUSD has formed a new consolidation range below the latter level. Possibly, the pair may break the range to the downside and start a new decline with the target at 1.4097.

Forex Technical Analysis & Forecast 24.05.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After rebounding from 74.65, USDRUB is falling towards 73.22. Later, the market may correct to reach 73.65 and then resume trading within the downtrend with the target at 73.20.

Forex Technical Analysis & Forecast 24.05.2021 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 rebounding from 108.62, USDJPY is growing towards 109.29 and may later correct to reach 108.98, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the upside, the market may form one more ascending structure towards 110.10; if to the downside – start another decline with the target at 108.50.

Forex Technical Analysis & Forecast 24.05.2021 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 rebounding from 0.8953, USDCHF has completed the ascending impulse towards 0.9001; right now., it is correcting to reach 0.8964. After that, the instrument may continue trading upwards with the target at 0.9055.

Forex Technical Analysis & Forecast 24.05.2021 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 rebounding from 0.7780, AUDUSD is falling to break 0.7702. Later, the market may continue falling with the short-term target at 0.7626.

Forex Technical Analysis & Forecast 24.05.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After rebounding from 64.50, Brent has returned to 67.00. Possibly, today the asset may form a new descending structure to reach 64.10 and then grow to return to 67.00. After that, the instrument may break the latter level and continue trading upwards with the target at 70.00.

Forex Technical Analysis & Forecast 24.05.2021 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 1873.00 without particular direction. Possibly, the metal may expand the range down to 1854.55 and then form one more ascending structure with the key target at 1900.50. Later, the market may start a new correction towards 1710.00.

Forex Technical Analysis & Forecast 24.05.2021 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 is still consolidating around 4141.0. Today, the asset may expand the range up to 4198.5 and then resume trading downwards with the short-term target at 3980.4.

Forex Technical Analysis & Forecast 24.05.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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