Forex Technical Analysis & Forecast 23.02.2021

23.02.2021

EURUSD, “Euro vs US Dollar”

The currency pair showed another link of growth to 1.2144 and created a consolidation range around it; with an escape upwards, it opened a pathway to 1.2200. Today, the market extended the range to 1.2177 and returned technically to 1.2165 (a test from above). A link of decline to 1.2150 is neither excluded, followed by growth to 1.2200, and this is only a half of another wave of growth.

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”

The currency pair performed a wave of growth to 1.4060 and is forming a compact consolidation range around this level. With an escape upwards, a pathway to 1.4130 will open. When this level is reached, a link of correction to 1.4060 (a test from above) is possible, followed by growth to 1.4155.

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

USDRUB, “US Dollar vs Russian Ruble”

The currency pair extended the consolidation range to 75.00. Today, we expect a wave of decline to 73.80 to develop. Then a link of growth to 74.55 might happen, followed by a decline to 73.00.

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

USDJPY, “US Dollar vs Japanese Yen”

The currency pair escaped a consolidation range downwards. It is trading a structure of decline to 104.78. After this level is reached, a link of growth to 105.30 (a test from below) might follow, then – a decline to 104.40.

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

USDCHF, “US Dollar vs Swiss Franc”

The currency pair is trading is a structure of decline to 0.8930. After this level is reached, a correction to 0.8975 is expected.

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

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair keeps developing a wave of growth to 0.7937. After this level is reached, a link of correction to 0.7800 might follow. Then – growth to 0.7950.

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

BRENT

Oil performed a wave of growth to 65.30. AT the moment, the market is trading in a consolidation area above this level. A link of growth to 65.80 is not excluded. Then the price might go down to 64.00, then grow to 66.22, and then – to 66.55.

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

XAUUSD, “Gold vs US Dollar”

Gold formed a consolidation range around 1793.40 and with an escape upwards, opened a pathway to 1818.70. After this level is reached, a link of correction to 1793.50 might follow, then – growth to 1830.00.

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

S&P 500

The stock index keeps trading in a consolidation range around 3900.5 in no clear trend. Today, it has extended the range to 3864.4. Next, we expect growth to 3912.0 (a test from below), followed by a decline to 3856.5. The goal is local.

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.