Forex Technical Analysis & Forecast 19.02.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.2060 and then forming a new consolidation range around this level, EURUSD has broken it to the upside and may continue growing to reach 1.2100. After that, the instrument may fall to return to 1.2060, thus forming a wider consolidation range around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.2010; if to the upside – start another growth with the target at 1.2200.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still growing towards 1.3995. Later, the market may start a new correction with the target at 1.3850.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.70. Possibly, today the pair may expand the range up to 74.22 and then fall to break 73.70. After that, the instrument may continue trading downwards with the target at 72.72. However, if the price breaks 74.30 to the upside, the market may continue the correction to test 74.64 from below and then start a new decline towards the above-mentioned target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 105.74; right now, it is still falling with the short-term target at 105.40. Later, the market may form one more ascending structure to test 105.70 from below and then resume trading downwards to reach 105.30.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending impulse at 0.8966, USDCHF is forming a narrow consolidation range around this level. If later the price breaks this range to the downside, the market may start a new decline towards 0.8937; if to the upside – resume trading upwards with the target at 0.9004.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7750. without any particular direction. Possibly, the pair may break grow towards 0.7810 and then resume trading downwards to reach 0.7676.

BRENT

Brent is still consolidating around 63.11; it has expanded the range down to 61.50. Today, the asset may grow to break 63.11 and then continue trading upwards to reach 65.00. Later, the market may form a new descending structure with the target at 60.70.

XAUUSD, “Gold vs US Dollar”

After breaking 1770.00 to the downside and reaching 1760.50, Gold is expected to return to 1770.00 and then form a new descending wave towards 1750.00. After that, the instrument may start another correction with the target at 1770.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 51660.00. Possibly, the asset may fall towards 50300.00 and then grow to reach 52900.00. Later, the market may form a new descending structure with the first target at 48500.00.

S&P 500

The S&P index is still consolidating around 3900.5. Today, the asset may fall to reach 3852.0 and then grow towards to test 3900.0 from below. After that, the instrument may resume trading downwards with the first target at 3830.0.

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.