Forex Technical Analysis & Forecast 20.05.2020

20.05.2020

EURUSD, “Euro vs US Dollar”

After completing the descending impulse at 1.0918, EURUSD is correcting towards 1.0946. Possibly, today the pair may reach this level and then form a new descending structure to break 1.0909. Later, the market may continue trading inside the downtrend with the short-term target at 1.0870.

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 finishing the descending impulse at 1.2235, GBPUSD has completed the correction towards 1.2275. Today, the pair may start another decline to break 1.2222 and then continue trading downwards with the short-term target at 1.2184.

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 continues falling towards 72.00. Possibly, the pair may reach it and then start another correction towards 73.00. Later, the market may resume trading inside the downtrend with the target at 71.30.

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 finishing the descending impulse at 107.62 along with the correction towards 107.93, USDJPY is expected to fall and break 107.52. After that, the instrument may continue falling with the short-term target at 107.08.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling towards 0.9696. Possibly, the pair may reach this level and then start a new growth towards 0.9715, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 0.9750.

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 descending impulse at 0.6525 along with the correction towards 0.6555, AUDUSD is expected to form one more descending impulse to break 0.6520. Later, the market may continue trading inside the downtrend with the short-term target at 0.6494.

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

BRENT

Brent is still consolidating around 35.00. Possibly, the pair may fall towards 34.00. If later the price breaks this range to the upside, the market may resume trading upwards to reach 39.00; if to the downside – start another correction with the target at 32.00.

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

XAUUSD, “Gold vs US Dollar”

After breaking 1740.20, Gold has reached 1750.00. Possibly, today the pair may start another correction to return to 1740.20 and test it from below. After that, the instrument may form one more ascending structure with the target at 1755.00.

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 consolidating in the center of the range around 9600.00. Possibly, the pair may fall towards 9400.00 and then continue trading upwards with the target at 10150.00.

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

S&P 500

The Index is correcting towards 2901.5. Later, the market may form one more ascending structure with the target at 3012.3.

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.