Forex Technical Analysis & Forecast 15.01.2021

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2111 and then ascending structure towards 1.2170, EURUSD is consolidating below the latter level. If later the price grows and breaks to the upside at 1.2170, the market may start a new growth with the target at 1.2230; if to the downside – form a new descending structure to break 1.2111 and then continue trading downwards to reach 1.2050.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.3702, GBPUSD is consolidating below this level. Possibly, the pair may start a new decline to break 1.36540 and then continue falling towards 1.3570.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling; right now, it is trading not far from the downside border of the range at 73.30. If later the price breaks this range to the downside, the market may start a new decline with the short-term target at 72.23; if to the upside – form one more ascending structure to reach 75.00 and then resume moving within the downtrend towards 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the descending wave at 103.55, USDJPY is expected to break this level downwards and start a new decline to with the target at 103.40. Later, the market may resume trading upwards to reach 104.60.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.8877 and has equal chances to expand this range both upwards and downwards, to reach 0.8922 and 0.8840 respectively. If the price rebounds from the latter level, the market may resume trading within the uptrend with the target at 0.9000.

AUDUSD, “Australian Dollar vs US Dollar”

After rebounding from 0.7725, AUDUSD has complete the ascending structure towards 0.7788; right now, it is falling to return to 0.7725. Later, the market may break the latter level to the downside and then start another decline with the target at 0.7666.

BRENT

Brent is consolidating around 56.00. Possibly, today the asset may expand the range up to 56.68 and then form a new descending structure towards 54.60. After that, the instrument may start another growth to break 57.30 and then continue trading upwards with the target at 58.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating above 1837.40; right now, it is moving towards the upside border at 1863.44. If later the price breaks this level to the upside, the market may form one more ascending structure to reach 1897.30. However, if the asset falls and breaks 1837.40 to the downside, the instrument may resume falling with the target at 1814.88.

S&P 500

After failing to fix above 3818.9 and continue rising, the S&P index is falling to reach the downside border of the range at 3780.0. If later the price falls and breaks 3784.4 to the downside, the market may continue trading downwards with the short-term target at 3744.4.