Forex Technical Analysis & Forecast 13.11.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.1789; it has broken this level upwards and may grow to reach 1.1832. After that, the instrument may fall towards 1.1735 and then start another growth to return to 1.1789. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1700; if to the upside – form one more ascending structure towards 1.1900.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.3169 downwards, GBPUSD is expected to reach 1.3097 and may later form one more ascending structure to return to 1.3169. After that, the instrument may resume trading downwards to reach 1.3070 and then start another growth with the target at 1.3170.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the ascending wave at 77.50. Possibly, today the pair may fall to reach 76.44 and then grow towards 77.00, thus forming a new consolidation range around the latter level. If later the price breaks this range to the downside, the market may start another decline to reach 75.66 or even 75.00; if to the upside – continue the correction with the target at 78.00.

USDJPY, “US Dollar vs Japanese Yen”

After breaking 105.30 downwards, USDJPY has finished the descending structure at 104.98. Today, the pair may correct to test 105.30 from below and then resume trading downwards with the target at 104.73 or even reach 104.33.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9141 without any particular direction. Today, the pair may fall to reach 0.9122 and then start another growth towards 0.9150. Later, the market may resume moving downwards with the target at 0.9093.

AUDUSD, “Australian Dollar vs US Dollar”

After breaking the consolidation range to the downside along with 0.7245, AUDUSD is expected to continue falling towards 0.7175. After that, the instrument may start a new correction to return to 0.7245 and then resume falling with the first target at 0.7155.

BRENT

After completing the ascending wave at 45.30, Brent is correcting towards 41.85. Possibly, the asset may extend the correction down to 39.60 and then form one more ascending wave with the target at 47.60.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1870.30; it has fixed above 1875.00 and may choose an alternative scenario to expand the range up to 1894.76. The main scenario suggests that the metal may fall to break 1860.60 and then continue trading downwards with the target at 1840.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has reached its upside target at 16400.00. Possibly, today the asset may fall to test 15800.00 from above and then choose an alternative scenario to form one more ascending wave towards 16800.00 or even reach 17250.00. However, if the price breaks 15800.00 and forms a continuation pattern, the market may start a new correctional decline with the target at 15000.00.

S&P 500

The S&P index is still falling towards 3468.6 and may later start another growth to reach 3585.5, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may form a new descending wave with the target at 3333.3.

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.