Forex Technical Analysis & Forecast 20.05.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has broken 1.1170; right now, it is still trading downwards. Possibly, today the pair may reach 1.1149 and then grow to test 1.1170 from below. If later the price breaks range to the downside, the instrument may resume trading inside the downtrend to reach 1.1108; if to the upside – start a new correction with the target at 1.1200.
GBPUSD, “Great Britain Pound vs US Dollar”
In case of GBPUSD, the downtrend continues. Possibly, today the pair may reach 1.2676 and then start another correction towards 1.2788. Later, the market may continue trading inside the downtrend with the target at 1.2573.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still trading upwards. Today, the pair may form one more ascending structure to reach 1.0132 and then start a new correction towards 1.0108. After that, the instrument may continue growing with the target at 1.0195.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has reached the short-term target at 110.30. Possibly, today the pair may be corrected towards 109.70 and then start another growth with the target at 110.46.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is moving upwards. Possibly, the pair may be corrected to reach 0.6932 and then form a new descending structure with the target at 0.6822.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still moving downwards. Today, the pair may start another correction towards 64.83 and then resume trading inside the downtrend with the short-term target at 64.17.
XAUUSD, “Gold vs US Dollar”
Gold has broken 1280.86. Possibly, today the pair may form one more ascending structure to test this level from below. After that, the instrument may resume trading inside the downtrend with the short-term target at 1266.00.
BRENT
Brent is still moving upwards; it has broken 72.92 and may continue growing towards 74.25. Later, the market may be corrected to reach 72.20 and then resume trading inside the uptrend with the short-term target at 75.80.
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.