Forex Technical Analysis & Forecast 27.05.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.2262 and finishing the descending structure at 1.2200, EURUSD is forming a new consolidation range below the latter level. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 1.2230; if to the downside – resume trading downwards with the target at 1.2131.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4170, GBPUSD is expected to consolidate around it. Possibly, today the pair may break the range to the downside and resume falling with the short-term target at 1.4042.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 73.70. If later the price breaks this range to the upside, the market may start another correction to reach 74.70; if to the downside – resume trading downwards with the target at 72.22.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending impulse at 109.04, USDJPY is consolidating around it. Possibly, the pair may break the range to the upside and form one more ascending structure with the short-term target at 109.38. Later, the market may start a new correction to return to 109.04.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.8975, USDCHF is forming a new consolidation range around this level. Possibly, today the pair may break the range to the upside and resume trading upwards with the target at 0.9020. After that, the instrument may start another correction to return to 0.8975.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending wave at 0.7723. Today, the pair may correct to reach 0.7759 and then resume trading downwards with the target at 0.7669.

BRENT

Brent is consolidating below 68.88. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 72.00 or even reach 74.00; if to the downside – start a new correction towards 66.68.

XAUUSD, “Gold vs US Dollar”

After finishing the descending impulse at 1897.70, Gold is consolidating around this level. Possibly, the metal may break the range to the downside and resume falling towards 1883.21. After that, the instrument may correct to return to 1897.72.

S&P 500

The S&P index is still consolidating around 4141.0 without any particular direction. Today, the asset may expand the range up to 4230.1 and then resume trading downwards to reach the downside border of the range at 4080.4. After breaking it, the instrument may continue falling with the target at 3944.4.

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.