Forex Technical Analysis & Forecast 20.09.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 0.9992; it has already expanded the range up to 1.0049 and is currently falling to return to 0.9992. If later the price breaks this range to the downside, the market may form a new descending wave to reach 0.9800; if to the upside – resume trading upwards with the target at 1.0200.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues growing towards 1.1472 and may later start another decline to reach 1.1380. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1.1212; if to the upside – form one more ascending wave with the target at 1.1550.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 143.25 without any specific direction. Possibly, today the pair may expand the range up to 144.00 and then fall to return to 143.25. If later the price breaks this range to the upside, the market may form one more ascending wave to reach 144.99; if to the downside – resume trading downwards to break 141.99 and then continue falling with the target at 140.99.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending wave at 0.9694 along with the correction down to 0.9630, USDCHF is expected to resume trading upwards with the short-term target at 0.9713.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the ascending wave at 0.6740; right now, it is falling towards 0.6690. If later the price breaks this range to the downside, the market may form a new descending wave to reach 0.6600; if to the upside – resume trading upwards with the target at 0.6800 and then start another decline towards 0.6525.

BRENT

Brent has finished the descending wave at 88.60; right now. it is growing towards 93.00 and may later correct down to 90.50. After that, the instrument may start another growth to reach 97.00, or even extend this structure up to 100.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1668.60. Today, the metal may fall to reach 1660.00 and then resume growing towards 1683.11. Later, the market may start a new decline to reach 1652.00 and then form one more ascending wave with the target at 1700.00.

S&P 500

After completing the descending structure at 3832.0 and then returning to test 3912.0 from below, the S&P index is expected to start another decline with the target at 3770.0.

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.