Forex Technical Analysis & Forecast 11.12.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair completed a wave of growth to 1.2158. At the moment, the market is trading in a consolidation range under this level. With an escape fro the range upwards, the trend might continue to 1.2210. With an escape downwards, the pair might decline to 1.2050. Then growth to 1.2200 should follow.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair performed a wave of decline to 1.3246. Today, it might correct to 1.3360. Then a decline to 1.3015 might follow.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair is trading at the lower border of a consolidation range. With an escape downwards, a decline to 72.40 and then – to 71.90 might follow.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair broke 104.24 top-down and reached the goal of the declining wave at 103.93. Then a link of growth to 104.24 might follow (a test from below). Then we expect a decline to 103.60.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair broke 0.8880 downwards. A structure of decline to 0.8850 and a correction to 0.880 happened then. Today, the market keeps declining. The level of 0.8838 might be reached, followed by growth to 0.8880.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair reached the goal of a wave of growth at 0.7544. Today, we expect a consolidation range to form at these highs. With an escape from it downwards, a wave of decline to 0.7330 might start. The goal is first.

BRENT

Oil performed a wave of growth to 50.77. Today, the market is correcting to 49.66. When it is over, another structure of growth to 51.17 might develop.

XAUUSD, “Gold vs US Dollar”

Gold is trading in a consolidation range around 1839.15. The range might extend to 1852.90. Then another link of decline to 1819.15 might follow.

BTCUSD, “Bitcoin vs US Dollar”

The market is forming a consolidation range around 18,111. With an escape downwards, a pathway to 16,600 might open. With an escape upwards, a correction to 18,800 will become possible.

S&P 500

The market performed a wave of decline to 3467.0. Today, a correction to 3686.3 might follow. Then we expect a decline to 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.