Forex Technical Analysis & Forecast 27.01.2021

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.2107, EURUSD is growing towards 1.2188. Later, the market may start a new correction to reach 1.2140 and then form one more ascending structure with the target at 1.2200.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed the correction at 1.3610; right now, it is moving upwards to reach 1.3777. After that, the instrument may start another correction towards 1.3700 and then resume trading within the uptrend with the target at 1.3800.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling towards 74.80. After that, the instrument may form a new consolidation range. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 75.90; if to the downside – resume trading downwards with the target at 73.30.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the correction at 103.55; right now, it is growing towards 103.75, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may start another growth to reach 103.99; if to the downside – resume trading downwards with the target at 103.22.

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.8860, USDCHF is consolidating above this level. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 0.8880; if to the downside – resume trading downwards with the target at 0.8832.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.7670, AUDUSD is growing towards 0.7773. Later, the market may start another correction to reach 0.7722 and then resume trading within the uptrend with the target at 0.7830.

BRENT

Brent is still consolidating above 55.35. Today, the asset may break the range to the upside and reach 56.27. After that, the instrument may correct towards 55.50 and then resume trading upwards with the target at 58.60.

XAUUSD, “Gold vs US Dollar”

After breaking 1850.50 to the downside, Gold is expected to continue falling towards 1841.55. Later, the market may start another growth to test 1850.50 from below and then form a new descending structure with the target at 1834.00.

S&P 500

The S&P index is consolidating around 3837.0; it has expanded the range up to 3866.7. Possibly, today the asset may fall to test 3837.0 from above and then start another growth with the target at 3875.0.