Forex Technical Analysis & Forecast 09.11.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After forming another consolidation range around 1.1825 and then breaking it to the upside, EURUSD has completed the ascending structure at 1.1880; right now, it is moving to break the latter level upwards. Possibly, today the pair may grow towards 1.1966 and then start a new correction to test 1.1800 from above. Later, the market may resume trading within the uptrend with the target at 1.2040.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending structure at 1.3080 and forming another consolidation range around this level, GBPUSD has broken it to the upside and may later continue trading upwards to reach 1.3238. After that, the instrument may return to 1.3080 to test it from above and then form one more ascending structure with the target at 1.3307.

USDRUB, “US Dollar vs Russian Ruble”

After finishing another descending structure at 77.00, USDRUB is expected to correct towards 78.18. Later, the market may resume moving within the downtrend with the target at 76.26.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished another descending structure at 103.18; right now, it is consolidating above this level. If later the price breaks this range to the upside, the market may correct to reach 103.90; if to the downside – resume trading within the downtrend with the target at 102.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling towards 0.8968. After that, the instrument may start a new correction to reach 0.9020 and then resume trading downwards with the target at 0.8955.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7266. Possibly, the pair may break this range to the upside and grow towards 0.7333. Later, the market may start another correction with the target at 0.7160 to test it from above.

BRENT

After completing the descending structure at 39.60, Brent is growing towards 41.41. Today, the asset may break this level to the upside and form one more ascending structure to reach 42.72. Later, the market may start another correction to return to 39.50.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1946.15. Possibly, the metal may expand this range up to 1964.04 and then start a new correction to reach 1918.88. After that, the instrument may resume trading within the uptrend with the target at 1979.06.

BTCUSD, “Bitcoin vs US Dollar”

After completing the correction at 14250.00, BTCUSD has finished another ascending structure towards 15300.00; right now, it is consolidating around the latter level. If later the price breaks this range to the upside, the market may start another growth to reach 16200.00; if to the downside – continue the correction with the target at 13500.00.

S&P 500

After forming another consolidation range above 3461.5, the S&P index has broken it upwards. Possibly, the asset may grow towards 3596.4 and then start another correction to reach 3460.0. After that, the instrument may form one more ascending structure with the target at 3685.8

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.