Forex Technical Analysis & Forecast 13.08.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing another descending wave at 1.1711 and then returning to 1.1811, EURUSD is consolidating in the center of the range. Possibly, today the pair may grow to reach 1.1826 and then start another decline towards the downside border at 1.1700. After that, the instrument may form one more ascending structure with the target at 1.1800.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3100 along with the correction towards 1.3060, GBPUSD is expected to reach 1.3030, thus forming a new consolidation range between the two latter levels. If later the price breaks this range to the downside, the market may start a new decline towards 1.2900; if to the upside – resume trading upwards with the target at 1.3130.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.73. According to the main scenario, the price is expected to fall to break 72.30 and then continue trading downwards with the short-term target at 70.80.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 107.00, USDJPY is falling to reach 106.40 and may later start another growth towards 106.70, thus forming a new consolidation range between the two latter levels. If later the price breaks this range to the downside, the market may start a new correction with the target at 105.95.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending wave at 0.9196, USDCHF is falling towards 0.9100. Later, the market may form one more ascending structure to reach 0.9150. The price is expected to form a wide consolidation range not far from the lows.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the descending wave at 0.7108 along with the correction towards 0.7181, AUDUSD is expected to fall and break 0.7141. After that, the instrument may continue trading downwards with the target at 0.7070. This instrument is forming a wide consolidation range around 0.7171 at the top of the wave.

BRENT

After reaching 45.85, Brent is expected to correct towards 45.26 and may later grow to break 45.90. After that, the instrument may continue growing with the short-term target at 47.00.

XAUUSD, “Gold vs US Dollar”

After completing another descending wave at 1867.40 and rebounding from this level upwards, Gold has formed one more ascending impulse at 1950.00 along with the correction towards 1906.40. Today, the pair may grow to test 1960.00 from below and then form a new consolidation range. If later the price breaks this range to the downside, the market may start a new decline towards 1850.00; if to the upside – resume trading upwards with the target at 2020.70.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 11400.00. Possibly, today the asset may expand the range up to 11800.00. After that, the instrument may form a new descending structure towards 11000.00 and then start another growth to return to 11400.00.

S&P 500

After rebounding from 3333.0 and completing one more ascending structure at 3385.5, the S&P index is still consolidating at the top of the wave. Possibly, the asset may reach 3360.2 and then expand the range up to 3395.1. later, the market may resume trading downwards with the target at 3322.0.

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.