Forex Technical Analysis & Forecast 23.09.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.1720, EURUSD has finished the correction to test 1.1736 from below; right now, it is still falling towards 1.1620. After that, the instrument may start another correction to return to 1.1736 and then resume trading within the downtrend with the short-term target at 1.1585.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1,2732. Today, the pair may continue moving inside the downtrend with the target at 1.2600. Later, the market may start a new correction to reach 1.2800.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 76.00. Possibly, the pair may expand the range up to 76.65 and then resume falling to break 75.50. After that, the instrument may continue trading downwards with the target at 74.74 or even 72.80.

USDJPY, “US Dollar vs Japanese Yen”

After testing 104.81 from below, USDJPY is consolidating around this level. Possibly, today the pair may continue the correction to reach 105.44 and then resume falling inside the downtrend with the target at 103.25.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending structure at 0.9215, USDCHF is consolidating below this level. Possibly, the pair may correct towards 0.9190 and then form one more ascending structure within the uptrend to reach 0.9230 or even 0.9240.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the descending wave at 0.7160, AUDUSD had broken this level to the downside and may continue falling towards 0.7100. After that, the instrument may correct to reach 0.7200 and then resume trading downwards with the target at 0.7082.

BRENT

After finishing the ascending structure at 42.60, Brent is correcting downwards. Possibly, today the asset may reach 41.20. Later, the market may start a new growth towards 44.11 or even 44.70.

XAUUSD, “Gold vs US Dollar”

After breaking 1892.60 to the downside, Gold is still falling to reach 1860.00. After that, the instrument may correct towards 1933.50 and resume trading within the downtrend with the target at 1850.00.

BTCUSD, “Bitcoin vs US Dollar”

After returning to 10550.00, BTCUSD is expected to continue falling to break 10220.00. Later, the market may continue trading downwards with the target at 9333.00.

S&P 500

After finishing the ascending structure to test 3315.0 from below, the S&P index is expected to form a new descending wave towards 3200.8. After that, the instrument may start another correction with the target at 3230.3.

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.