Forex Technical Analysis & Forecast 21.09.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the descending structure at 1.1740, rebounding from this level, and then breaking 1.1805 to the upside, EURUSD has completed the ascending structure towards 1.1866 and may continue growing with the target at 1.1875. Today, the pair may fall to test 1.1850 from below and then resume moving upwards to reach the above-mentioned target. Later, the market may break 1.1875 upwards and continue trading within the uptrend towards 1.1910.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the correction at 1.2864, GBPUSD is forming another ascending structure to reach 1.2990. Possibly, the pair may break this level upwards and continue growing with the short-term target at 1.3080. After that, the instrument may correct to test 1.1990 from above.

USDRUB, “US Dollar vs Russian Ruble”

After finishing the ascending structure at 75.67, USDRUB is expected to consolidate around this level. Possibly, today the pair may break the range to the upside and resume trading upwards with the short-term target at 76.30. Later, the market may correct towards 75.65 and then form one more ascending structure to reach 76.60.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still falling. Today, the pair may reach 104.06 and then start another correction towards 104.80. After that, the instrument may form a new descending structure with the short-term target at 103.25.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending structure at 0.9084 along with the correction towards 0.9111, USDCHF is moving downwards. Possibly, the pair may break 0.9080 and continue falling with the short-term target at 0.9055. After that, the instrument may correct to return to 0.9080 and then form a new descending structure to reach 0.9030.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending structure at 0.7333 and then the correction towards 0.7282, AUDUSD is expected to return to 0.7333 and break it upwards. Later, the market may continue trading upwards with the short-term target at 0.7384 and then start a new correction to reach 0.7334.

BRENT

After finishing the ascending wave at 42.50 and then forming a new consolidation range around this level, Brent has broken it upwards to reach 44.20. Possibly, today the pair may fall to test 42.80 from above and then form one more ascending structure with the first target at 44.64.

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure at 1970.17 along with the correction towards 1933.70, Gold is consolidating around the latter level. Today, the pair may form one more ascending structure to break 1965.00 and then continue trading upwards with the target at 2004.50. However, if the price falls and breaks 1933.70 again, the market may continue falling to reach 1895.00.

BTCUSD, “Bitcoin vs US Dollar”

After completing the ascending wave at 10700.00 and forming a new consolidation range around this level, BTCUSD has broken it upwards. Possibly, the pair may grow to reach 11300.00 and then start a new correction to test 10700.00 Later, the market may resume trading upwards with the target at 11600.00.

S&P 500

After finishing the first descending wave at 3330.0 and along with the correction towards 3430.0, the S&P index is falling to break 3330.0. Possibly, the asset may fall towards 3202.5 and then start another correction to reach 3315.0. After that, the instrument may resume trading downwards with the target at 3055.5.

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.