Forex Technical Analysis & Forecast 13.05.2020

13.05.2020

EURUSD, “Euro vs US Dollar”

After extending the ascending structure towards 1.0880 and then finishing the descending impulse at 1.0850, EURUSD has formed a new consolidation range around the latter level. Possibly, the pair may break the range to the downside and then resume trading downwards with the short-term target at 1.0817.

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”

After breaking 1.2308 to the downside, GBPUSD is still falling to reach 1.2239. After that, the instrument may correct to test 1.2308 from below and then continue trading inside the downtrend with the target at 1.2146.

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 trading to break 73.00 to the downside. Possibly, the pair may form one more ascending structure towards 73.50 to test it from below. Later, the market may break the downside border of the current range and then resume trading inside the downtrend with the target at 72.22.

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

USDJPY, “US Dollar vs Japanese Yen”

After breaking 107.34 to the downside, USDJPY is expected to reach 107.03. After that, the instrument may correct to return to 107.354 and then form a new descending structure with the first target at 106.95.

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

USDCHF, “US Dollar vs Swiss Franc”

After extending the descending wave towards 0.9666, USDCHF has formed a new consolidation range around 0.9696. Possibly, today the pair may break the range to the upside and grow with the target at 0.9720. Later, the market may correct to return to 0.9696.

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

AUDUSD, “Australian Dollar vs US Dollar”

After completing the first descending impulse at 0.6464, AUDUSD is consolidating around this level. According to the main scenario, the price is expected to break this range to the downside and then start another decline with the target at 0.6393.

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

BRENT

After breaking its consolidation range to the downside, Brent is expected to fall towards 29.30. Today, the pair may break this level as well and then continue the correction to reach 27.00. Later, the market may start forming the fifth ascending wave with the target at 38.20.

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

XAUUSD, “Gold vs US Dollar”

After completing the correction at 1700.00, Gold is expected to trade upwards and reach 1712.00. After breaking this level to the upside, the market may continue growing with the target at 1723.20.

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 consolidating around 8800.00. Possibly, today the pair may trade upwards to reach 9450.00 and then form a new descending structure to return to 8800.00. After that, the instrument may start another growth with the target at 9900.00.

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

S&P 500

After breaking 2893.3 to the downside, the Index has reached 2835.0. Today, the pair may return to 2893.2 and test it from below. Later, the market may form a new descending structure to break 2826.5 and then continue trading downwards with the target at 2750.5.

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.