Forex Technical Analysis & Forecast 19.01.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After expanding the consolidation range down to 1.2053, EURUSD is moving upwards to reach 1.2137. Later, the market may start a new decline towards 1.2100 and then resume growing with the short-term target at 1.2181.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.3520, GBPUSD is growing to reach 1.3626. After that, the instrument may form a new descending structure towards 1.3580 and then start another growth with the target at 1.3666.

USDRUB, “US Dollar vs Russian Ruble”

After forming another consolidation range around 73.73 and breaking it to the upside, USDRUB has reached 74.40. Possibly, today the pair may form a new descending structure to break 73.70 and then continue moving within the downtrend with the target at 73.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 103.75. Today, the pair may grow to reach 103.95 and then resume falling to break 103.75. After that, the instrument may continue trading downwards with the target at 103.44 and then form one more ascending structure to reach 104.60.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a new descending structure towards 0.8894 and may later start another correction to reach 0.8910. After that, the instrument may resume trading downwards with the first target at 0.8875.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the descending wave at 0.7660, AUDUSD is growing towards 0.7742. Later, the market may consolidate below the latter level and then expand this range up to 0.7777. After that, the instrument may resume trading downwards with the target at 0.7666.

BRENT

Brent is still consolidating below 55.20. Possibly, the asset may expand the range down to 54.34 and then start a new growth to break 56.00. After that, the instrument may continue trading upwards with the target at 58.50.

XAUUSD, “Gold vs US Dollar”

After returning to 1834.00, Gold is still consolidating around this level. Possibly, the4 metal may expand the range up to 1863.50 and then form a new descending structure with the target at 1790.00.

BTCUSD, “Bitcoin vs US Dollar”

After finishing the ascending wave at 37000.00, BTCUSD is forming a new consolidation range below this level. If the price breaks the range to the downside, the market may resume trading downwards with the short-term target at 32800.00; if to the upside – form one more ascending structure to reach 40500.00.

S&P 500

After forming a new consolidation range around 3778.5, the S&P index is trying to expand it to the upside and may reach 3806.1 After that, the instrument may resume trading downwards to break 3778.5 and then continue falling with the first target at 3737.2.

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.