Forex Technical Analysis & Forecast 18.08.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After breaking 1.1856 to the upside, EURUSD is still trading upwards. Today, the pair may correct to return to 1.1856 and then form one more ascending structure to reach 1.1930. Later, the market mat return to 1.1856 once again and then start another growth with the target at 1.1940.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.3115 to the upside, GBPUSD is expected to form one more ascending structure towards 1.3155. After that, the instrument may correct to reach 1.3114 and then resume trading upwards with the target at 1.3222.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.33. According to the main scenario, the price is expected to fall and break 72.82. After that, the instrument may continue trading downwards with the short-term target at 71.91.

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 105.95 and forming another consolidation range around 106.00, USDJPY has broken it to the downside and may continue falling towards 105.35. Later, the market may correct to test 106.00 from below and then form a new descending structure with the target at 104.84.

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9080 to the downside, USDCHF is expected to continue falling towards 0.9040. After that, the instrument may still correct to test 0.9080 from below and then resume moving downwards with the target at 0.9000.

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.7188 to the upside, AUDUSD is expected to continue growing towards 0.7247. Later, the market may correct to return to 0.7188 and then form one more ascending structure with the target at 0.7272.

BRENT

After breaking 45.55, Brent is still moving upwards to reach 47.00. Later, the market may correct to return to 45.55 and then start another growth with the short-term target at 49.00.

XAUUSD, “Gold vs US Dollar”

Gold has broken 1960.60 to the upside; right now, it is still growing to reach 1995.00. After that, the instrument may start another correction towards 1973.40 and then resume trading inside the uptrend with the target at 2020.00..

BTCUSD, “Bitcoin vs US Dollar”

After rebounding from 11700.00 and then reaching 12400.00, BTCUSD is expected to correct to test 12000.00 from above. After that, the instrument may form one more ascending structure towards 12600.00 or even 12800.00.

S&P 500

The S&P index has broken 3382.3 to the upside; right now. it is still growing to reach 3401.6. Later, the market may start a new correction to return to 3382.3 and then resume moving upwards with the target at 3408.3.

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.