Forex Technical Analysis & Forecast 26.11.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After forming another consolidation range around 1.1904, EURUSD is growing to reach 1.1974. After that, the instrument may start a new correction to return to 1.1904 and then form one more ascending structure with the target at 1.2017.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.3364 to the upside, GBPUSD is expected to continue growing towards 1.3425. Later, the market may start a new correction to return to 1.3364 and then resume trading upwards with the target at 1.3455.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 75.60 without any particular direction. Possibly, today the pair may fall to reach 75.00 and then start a new correction towards 75.40. After that, the instrument may resume moving downwards with the first target at 74.55.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still falling to break 104.00. Later, the market may continue trading downwards to reach 103.30 and then start another correction to return to 104.00. After that, the instrument may form a new descending wave with the target at 102.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still falling to reach 0.9060. Later, the market may start another correction towards 0.9090 and then form a new descending structure with the target at 0.9050.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing towards 0.7387 and may later correct to reach 0.7320. After that, the instrument may start a new growth with the target at 0.7400.

BRENT

Brent is still consolidating around 48.50. Possibly, today the asset may expand the range up to 49.94 and then start a new correction with the first target at 47.11.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1807.50. Possibly, the metal may expand the range down to 1785.40 and then form one more ascending structure with the target at 1831.40.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is falling to break 18400.00 to the downside. After that, the instrument may continue trading downwards to reach 17500.00 or even 17200.00. Later, the market may return to 18400.00 to test it from below and then resume with the short-term target at 15800.00.

S&P 500

After finishing the descending wave at 3618.8 along with the correction towards 3638.7, the S&P index is expected to consolidate between these two levels. If later the price beaks this range to the downside, the market may resume falling with the first target at 3601.9 and then start a new correction towards 3630.0; if to the upside – form one more ascending structure towards 3662.2 and then move downwards to reach 3600.0.

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.