Forex Technical Analysis & Forecast 23.11.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating above 1.1850. If later the price breaks this range to the upside at 1.1880, the market may resume growing towards 1.1900 or even reach the target at 1.1950; if to the downside at 1.1850 – start a new correction towards 1.1815 and then form one more ascending structure with the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still moving upwards; right now, it is trying to break 1.3330 to the upside. Possibly, the pair may succeed and then continue growing towards 1.3345 or even reach 1.3360. After that, the instrument may start a new correction with the target at 1.3240.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling towards 75.00 and may later correct to reach 75.60. After that, the instrument may fall towards 74.50 and then start a new correction with the target at 77.70.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating above 103.70. Today, the pair may fall towards 103.30 and then form one more ascending structure to return to 103.70. Later, the market may resume trading downwards with the target at 102.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating above 0.9099. Possibly, the pair may break this level to the downside and resume falling towards 0.9077. After that, the instrument may form one more ascending structure to return to 0.9099 and then resume falling with the target at 0.9060.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7292. Possibly, the pair may expand the range up to 0.7330 and then start a new descending structure to return to 0.7292. If later the price breaks this level to the downside, the market may start another correction with the target at 0.7244.

BRENT

After forming another consolidation range around 44.30 and breaking it to the upside, Brent is expected to continue growing towards 45.55. Later, the market may correct to return to 44.30 and then form one more ascending structure with the target at 48.50.

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure at 1874.30, Gold is consolidating below this level. Possibly, the metal may fall to break 1863.50 and then continue moving downwards with the target at 1849.74.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has finished the ascending wave at 18880.00. Today, the asset may correct with the first target at 17600.00 and then start another growth towards 18250.00, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may continue the correction with the short-term target at 16600.00.

S&P 500

The S&P index is still falling to reach 3531.1 and may later grow towards 3586.8, thus forming a new consolidation range. If the price breaks this range to the downside, the market may continue the correction with the target at 3450.0; if to the upside – start another growth to reach 3650.0.

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.