Forex Technical Analysis & Forecast 12.11.2020

12.11.2020

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1830 and finishing another descending structure at 1.1760, EURUSD is expected to grow and test 1.1800 from below. After that, the instrument may fall to reach 1.1737 and then start another growth to return to 1.1800. If later the price breaks this level to the upside, the market may continue trading upwards with the target at 1.1900.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is falling to reach 1.3183 and may later grow towards 1.3246, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 1.3333; if to the downside – resume trading downwards with the target at 1.3000.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving upwards. Possibly, today the pair may reach 77.30 and then towards 76.70. After that, the instrument may resume trading upwards with the target at 77.70.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 105.30. Today, the pair may fall to reach the downside border at 104.97 or even break it. If it happens, the market may continue trading downwards with the target at 104.40.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9141. Today, the pair may fall to reach 0.9122 and then start another growth towards 0.9150. Later, the market may resume moving downwards with the target at 0.9048.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7292. Possibly, the pair may fall towards 0.7245 and then grow to return to 0.7292. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 0.7333; if to the downside – start a new correction with the target at 0.7175.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 43.80, Brent is consolidating above this level. Possibly, today the asset may return to 43.80 and test it from above. After that, the instrument may form one more ascending wave with the short-term target at 47.65.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1870.30. Possibly, today the metal may fall towards 1850.50 and then start another growth to reach 1930.00. After that, the instrument may resume trading downwards with the target at 1840.10.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 15600.00. Possibly, the asset may expand the range down to15350.00 and then complete this ascending wave by reaching 16200.00. Later, the market may start a new decline with the target at 14700.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After completing the correction at 3585.1, the S&P index is expected to form a new descending structure with the target at 3466.7. After that, the instrument may resume trading upwards to test 3585.1 from below.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.