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Forex Technical Analysis & Forecast 29.04.2021

April 29, 2021

EURUSD, “Euro vs US Dollar”

After breaking the consolidation range to the upside at 1.2096, EURUSD has reached 1.2138. Today, the pair may fall to test 1.2096 from above and then resume trading upwards with the target at 1.2124.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the ascending wave at 1.3970. Possibly, today the pair may fall to reach 1.3864 and then grow towards 1.3915. Later, the market may resume trading downwards with the target at 1.3770.

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USDRUB, “US Dollar vs Russian Ruble”

USDRUB has broken its consolidation range to the downside. Possibly, the pair may continue trading downwards with the short-term target at 73.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still correcting towards 108.29. After that, the instrument may resume growing with the target at 109.16.

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.9097, USDCHF is consolidating around this level. Possibly, today the pair may form one more ascending structure with the target at 0.9181.

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.7777 to the upside, AUDUSD is expected to continue trading upwards with the target at 0.7866. Later, the market may start a new decline to reach 0.7700.

BRENT

Brent is still growing to reach 67.50 and may later correct towards 65.75. After that, the instrument may resume trading upwards with the target at 69.79.

XAUUSD, “Gold vs US Dollar”

Gold has finished the ascending structure at 1766.50; right now, it is growing towards the upside border of the range. Today, the metal may break it and then continue trading within the uptrend towards 1826.00 Later, the market may start a new correction with the target at 1766.50.

S&P 500

The S&P index is still growing towards 4216.0 and may later correct to reach 4168.6. After that, the instrument may form one more ascending structure with the key target at 4330.5.

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.

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