Forex Technical Analysis & Forecast 18.02.2021

18.02.2021

EURUSD, “Euro vs US Dollar”

After finishing the descending structure at 1.2044, EURUSD is forming a new consolidation range around this level. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.2004; if to the upside – start another growth with the target at 1.2064.

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 has completed the descending wave at 1.3850; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may start a new decline towards 1.3775; if to the upside – resume trading upwards with the target at 1.3903.

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 still falling to reach 73.30 and may later consolidate there. After that, the instrument may break the range to the downside and resume trading downwards with the target at 72.50.

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 forming the descending wave towards 105.30 and may later start another growth to reach 105.73, thus forming a new consolidation range. Later, the market may break the range to the downside and continue trading downwards with the short-term target at 104.50.

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 finishing the ascending wave at 0.8988, USDCHF is expected to correct towards 0.8950. After that, the instrument may resume trading upwards with the target at 0.9028.

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 0.7750. Possibly, today the pair may break the range to the downside and resume trading downwards to reach 0.7676. Later, the market may start a new growth with the target at 0.7750.

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

BRENT

Brent has reached its predicted upside target at 64.77. Today, the asset may form a new descending structure to reach 64.30 and then start another growth with the target at 65.75.

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

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1772.50. Possibly, today the metal may correct to test 1793.33 from below and then start another decline with the closest target at 1750.00.

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 expected to move upwards to reach 52900.00. Later, the market may correct with the target at 48400.00.

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

S&P 500

The S&P index is still consolidating around 3927.1. Today, the asset may grow to reach 3971.0 and then move downwards to reach 3900.0. After that, the instrument may break the latter level and continue falling with the target at 3609.0.

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.