Forex Technical Analysis & Forecast 09.12.2020

EURUSD, “Euro vs US Dollar”

The currency pair keeps forming a consolidation range around 1.2116. Today, it might extend upwards to 1.2155. Then it the pair might decline to 1.2080. Practically, we consider a correction to 1.2080. When it is over, growth to 1.2282 might start.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair has performed a structure of growth to 1.3408 and correction to 1.3294. Today, the market is trading in another structure of growth to 1.3430. With a breakaway of this level, a pathway to 1.3550 might open.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair has escaped a consolidation range downwards. Practically, a pathway to 73.00 is open. If this level is broken, the decline might continue through 72.50 to 70.50.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair keeps developing a consolidation range around 104.00. Today, we might witness a link of growth to 104.20 and a decline to 103.80. With a breakaway of the latter level downwards, a pathway to 103.30 might open. The goal is local.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair is breaking through 0.8882 downwards. We expect a decline to 0.8811. When this level is reached, we expect a link of growth to 0.8952. The goal is first.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair is forming a consolidation range around 0.7420. Today, the market has extended the range to 0.7440. Today, we expect a link of decline to 0.7420 (a test from above). Then growth to 0.7458 might follow.

BRENT

Oil keeps developing a consolidation range around 48.90. Extension to 49.19 is not excluded. Then a link of decline to 47.92 might develop, followed by growth to 49.90.

XAUUSD, “Gold vs US Dollar”

Gold has performed a wave of growth to 1873.20. Today, the market is correcting to 1847.60. When the correction is over, another structure of growth to 1890.50 might develop, followed by a link of correction to 1827.63.

BTCUSD, “Bitcoin vs US Dollar”

The Bitcoin has performed a wave of decline to 18,700. t the moment, it has formed a consolidation range around this level, escaped it downwards, and reached the local goal of 18,000. We expect a link of growth to 18,700 (a test from below) and a decline to 17,800.

S&P 500

Today, the index has reached 3713.4. We expect a link of decline to 3687.1. Then growth to 3775.3 might develop. The goal is main. When this level is reached, we expect a consolidation range to form at these highs. With an escape from it downwards, a pathway to 3600.0 will open.