Forex Technical Analysis & Forecast 21.01.2021

21.01.2021

EURUSD, “Euro vs US Dollar”

EURUSD has completed the correction at 1.2082; right now, it is forming another ascending wave towards 1.2170 and may later consolidate around this level. If the price breaks this range to the upside, the market may resume growing with the short-term target at 1.2260.

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 correction at 1.3523, GBPUSD is trading upwards to reach 1.3715. Later, the market may start a new correction towards 1.3678 and then form one more ascending structure with the target at 1.3730.

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 forming another descending wave to break 73.00. Later, the market may continue moving within the downtrend with the short-term target at 72.20.

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 falling towards 103.40. After that, the instrument may form one more ascending structure to reach 103.73 and then start a new decline with the target at 103.03.

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 has finished the correction at 0.8910. Possibly, today the pair may form a new descending structure to break 0.8860 and then continue trading downwards with the short-term target at 0.8802.

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 ascending wave at 0.7740 and then forming a new consolidation range around this level, AUDUSD has broken it to the upside. Today, the pair may extent this ascending structure up to 0.7793.

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

BRENT

Brent has finished the ascending wave at 56.47. Possibly, the asset may correct to reach 55.30 and then resume trading upwards with the target at 57.65.

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 ascending wave at 1863.50; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1833.53; if to the upside – extend this ascending wave up to 1895.55.

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 falling towards 31900.00. Later, the market may form one more ascending structure to test 35000.00 from below and then resume falling with the target at 30000.00.

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

S&P 500

After completing the ascending wave at 3811.9 and forming a new consolidation range around this level, the S&P index is has broken it to the upside to reach the predicted upside target at 3866.7. today, the asset may correct towards 3837.1 and then resume trading upwards with the target at 3875.0.

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.