Forex Technical Analysis & Forecast 26.10.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1864, EURUSD is falling to reach 1.1818 and may later form one more ascending structure towards 1.1839. After that, the instrument may resume trading downwards to break 1.1772 and then continue falling with the target at 1.1688.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is falling towards 1.2989. Possibly, today the pair may reach this level and then start another growth towards 1.3070. After that, the instrument may resume falling with the short-term target at 1.2900. If later the price breaks this level, the market may continue trading within the downtrend to reach 1.2840.

USDRUB, “US Dollar vs Russian Ruble”

After completing the descending wave at 75.12, USDRUB is consolidating above this level. Possibly, the pair may expand the range up to 76.00 and then start a new correction to reach 77.00. If later the price breaks the latter level, the instrument may continue the correction to test 78.20 from below.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still correcting towards 105.02. Today, the pair may reach this level and then resume moving downwards with the first target at 103.84. The key downside target is at 102.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating above 0.9030. Possibly, the pair may expand the range down to 0.9024 and then form one more ascending structure to break 0.9090. Later, the market may continue trading within the uptrend with the target at 0.9165.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still falling towards 0.7092 and may later correct to reach 0.7125. After that, the instrument may resume moving within the downtrend with the target at 0.7050 or even 0.7020.

BRENT

After completing the descending wave at 41.50. Brent is expected to consolidate around this level. If later the price breaks this range to the upside, the market may start another growth towards 42.85; if to the downside – continue the correction with the target at 39.50.

XAUUSD, “Gold vs US Dollar”

After finishing the descending structure at 1893.10 along with the correction towards 1924.20, Gold is falling to break 1893.50. According to the main scenario, the price is expected to continue trading within the downtrend with the short-term target at 1872.02. After that, the instrument may correct to test 1893.00 from below and then resume moving within the downtrend with the target at 1854.15.

BTCUSD, “Bitcoin vs US Dollar”

After finishing the ascending structure at 13300.00 along with the descending impulse towards 12840.00, BTCUSD is expected to consolidate between these two levels. If the price breaks the latter level to the downside, the market may continue falling towards 12500.00 or even 12300.00. However, if the pair grows and breaks 13300.00, the instrument may resume trading within the uptrend with the target at 13700.00 and then start a new decline to reach 12500.

S&P 500

After completing the ascending wave at 3470.9, the S&P index is falling to break 3434.8 and may later continue trading downwards with the target at 3376.4. And that’s just a half of another descending wave. The main scenario implies that the price may continue falling to reach 3214.5.

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.