Forex Technical Analysis & Forecast 11.05.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is falling towards 1.2120 and may later start a new correction to reach 1.2147, thus forming a new consolidation range around the latter level. Possibly, the pair may break the range to the downside and resume trading downwards with the target at 1.1860.

GBPUSD, “Great Britain Pound vs US Dollar”

After extending the ascending wave up to 1.4148, GBPUSD is consolidating below this level. Possibly, today the pair may fall to reach 1.3847 and resume growing with the target at 1.4000.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending wave at 73.44 and may later correct towards 74.40. After that, the instrument may resume trading downwards with the target at 73.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is correcting towards 109.17 and may later start a new decline to break 108.66. After that, the instrument may continue trading downwards with the target at 107.60.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a new consolidation range around 0.9000. Today, the pair may break the range to the upside and start a new correction to reach 0.9090. Later, the market may resume falling with the target at 0.9036.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is falling towards 0.7810 and may later form one more ascending structure to reach 0.7850. After that, the instrument may fall to break 0.7800 and then continue falling with the short-term target at 0.7757.

BRENT

Brent is correcting towards 66.66. Later, the market may start another growth with the target at 69.40 or even reach 70.00.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending structure at 1845.15, Gold is expected to correct towards 1817.00. After that, the instrument may resume trading upwards with the target at 1863.70.

S&P 500

The S&P index has completed the correction at 4165.0. Possibly, today the asset may resume growing towards 4263.2 and then start another correction to reach 4200.0. After that, the instrument may form one more ascending structure with the target at 4281.5.

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.