Forex Technical Analysis & Forecast 16.06.2020

EURUSD, “Euro vs US Dollar”

After finishing the correctional wave at 1.1340, EURUSD is expected to fall towards 1.1307, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may form a new descending structure to break 1.1226 and then continue trading downwards with the target at 1.1103.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues growing towards 1.2647. After that, the instrument may form a new descending structure to reach 1.2616, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may resume trading downwards with the target at 1.2470.

USDRUB, “US Dollar vs Russian Ruble”

After reaching the correctional target at 70.45, USDRUB is expected to fall towards 69.15. After that, the instrument may grow to reach 69.80 and then resume trading downwards with the target at 67.90.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 107.60. Today, the pair may start another decline to reach 107.03 and then form one more ascending structure towards 108.20. Later, the market may resume trading downwards with the target at 106.60.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9500. Possibly, today the pair may fall to reach 0.9450 and then form one more ascending structure to break 0.9560. Later, the market may continue trading upwards with the target at 0.9660.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the ascending wave at 0.6970, AUDUSD is expected to form a new descending wave to break 0.6850. and then continue trading downwards with the target at 0.6740.

BRENT

Brent is moving upwards. Possibly, the pair may grow to reach 40.25 and finish the correction. Later, the market may form a new descending structure to break 37.90 and then continue trading downwards with the target at 35.60.

XAUUSD, “Gold vs US Dollar”

Gold has reached 1730.00 during the correction. Today, the pair may resume trading downwards to break 1716.00 and then continue falling with the first target at 1698.00.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is growing towards 9700.00. After reaching this level, the instrument may form a new descending structure to break 9100.00 and then continue trading inside the downtrend with the target at 8700.00.

S&P 500

After finishing the descending wave at 2936.0, the Index is growing towards 3115.0. Possibly, the asset may expand this wave up to 3190.0. After that, the instrument may form a new descending structure to break 2900.0 and then continue trading downwards with the short-term target at 2800.0.