Forex Technical Analysis & Forecast 10.08.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After forming a wide consolidation range around 1.1828 and breaking it to the downside, EURUSD has reached the short-term correctional target at 1.1760. According to the main scenario, the price is expected to return to 1.1828 to test it from below and then start another decline to complete the correction at 1.1745. After that, the instrument may form one more ascending structure with the target at 1.1940.

GBPUSD, “Great Britain Pound vs US Dollar”

After forming a consolidation range around 1.3100 and breaking it to the downside, GBPUSD has finished another correctional wave at 1.3025; right now, it is moving back to test 1.3100 from below. Later, the market may form another correctional wave towards 1.2993 and then resume trading upwards with the target at 1.3222.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading at 73.65. Possibly, the pair may start another growth to reach 74.22 and then resume trading downwards to break 72.44. Later, the market may continue falling with the short-term target at 70.50.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting upwards. Possibly, the pair may finish the correction at 106.11 and then resume falling towards 105.08, After that, the instrument may form one more ascending structure with the target at 107.30.

USDCHF, “US Dollar vs Swiss Franc”

After rebounding from 0.9108 and then reaching the short-term correctional target at 0.9155, USDCHF is expected to return to 0.9108 and test it from above. Later, the market may form one more correctional structure with the target at 0.9166 and then resume trading downwards to reach 0.9050.

AUDUSD, “Australian Dollar vs US Dollar”

After forming a consolidation range around 0.7180 and breaking to the downside, AUDUSD has reached the short-term target at 0.7150; right now, it is growing to return to 0.7180 and test it from below. Later, the market may start another correctional structure with the target at 0.7133.

BRENT

After completing the correction at 44.44, Brent is moving upwards. Possibly, today the pair may reach 45.40 and then correct towards 44.90. After that, the instrument may start another growth to break 45.50 and then continue trading upwards with the short-term target at 47.30.

XAUUSD, “Gold vs US Dollar”

After breaking 2043.00 and finishing another correctional structure at 2018.00, Gold is moving to return to 2043.00 and test it from below. Later, the market may form a new descending structure to complete the correction at 2010.60. After that, the instrument may start another growth with the target at 2088.88.

BTCUSD, “Bitcoin vs US Dollar”

After rebounding from 11400.00, BTCUSD is moving upwards. Today, the asset may reach 12350.00 and then resume falling to return to 11400.00. According to the main scenario, the price is expected to form a wide consolidation range around this level.

S&P 500

After rebounding from 3333.3, the S&P index is moving upwards. Possibly, today the asset may reach 3363.5 and then start a new correction to return to 3333.3. Later, the market may form one more ascending wave with the target at 3450.5.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.