Forex Technical Analysis & Forecast 21.05.2021

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.2200 and forming a new consolidation range around this level, EURUSD has broken it to the upside. Possibly, the pair may start another growth with the target at 1.2239 and then resume falling to reach 1.2152.

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching the upside target at 1.4192, GBPUSD is forming a new consolidation range below this level. Possibly, the pair may break the range to the downside and start a new decline towards 1.4100. After that, the instrument may return to test 1.4155 from below and then resume trading downwards with the target at 1.4020.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.46. Today, the pair may correct towards 74.00 and then resume trading within the downtrend with the target at 73.25.

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 108.73, USDJPY is consolidating above this level. Possibly, the pair may break the range to the upside and form one more ascending structure to break 109.30. Later, the market may continue growing with the target at 109.90.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling towards the downside border of the range at 0.8960 and may later grow to break 0.9037. After that, the instrument may continue trading upwards with the target at 0.9100.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correctional wave at 0.7766 and forming a new consolidation range there, AUDUSD has broken it to the downside and may later continue falling to break 0.7690. Later, the market may continue falling with the target at 0.7581.

BRENT

After finishing the descending wave at 64.80, Brent is consolidating above this level. Possibly, today the asset may expand the range down to 64.10. After that, the instrument may resume trading upwards with the first target at 67.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1873.00. Possibly, the metal may expand the range down to 1854.55 and then form one more ascending structure with the key target at 1900.50.

S&P 500

The S&P index is still consolidating around 4136.0. Today, the asset may expand the range up to 4198.5 and then resume trading downwards with the short-term target at 3980.4.