Forex Technical Analysis & Forecast 28.05.2020

28.05.2020

EURUSD, “Euro vs US Dollar”

EURUSD is forming a wide consolidation range around 1.0990. Possibly, today the pair may expand the range up to 1.1050 (an alternative scenario). The main scenario implies that the price is expected to trade downwards and reach 1.0935. Later, the market may start a new correction with the target at 1.0985.

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 completing the second descending impulse, GBPUSD is correcting towards 1.2280. After that, the instrument may resume moving downwards with the first target at 1.2195.

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 consolidating in the center of the range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 69.50; if to the upside – start a new correction towards 72.72 and then form a new descending structure to reach the above-mentioned target.

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 completing the ascending structure close to the upside border of the range, USDJPY has finished the descending impulse at 107.65 along with the correction towards 108.85. Today, the pair may fall to break 107.36 and then continue falling with the target at 106.66. However, if the price breaks 107.90 to the upside, the market may expand the range up to 108.10.

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

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9726, USDCHF is still correcting to reach 0.9669. Later, the market may grow to break 0.9720 and then continue growing with the target at 0.9800.

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 forming the descending impulse at 0.6567, AUDUSD has completed the correction towards 0.6626. Possibly, today the pair may form one more descending impulse with the short-term target at 0.6544.

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

BRENT

Brent is consolidating not far from the downside border. Today, the pair may fall to reach 33.33 and then grow to break 37.00. The target is at 39.00. After that, the instrument may correct to reach 30.50 and then resume trading inside the uptrend with the target at 45.50.

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

XAUUSD, “Gold vs US Dollar”

Gold is growing towards 1719.00. After that, the instrument may correct to reach 1706.00, 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 1742.00.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has finished the ascending wave at 9250.00. Possibly, today the pair may correct to reach 8850.00 and then resume trading upwards with the target at 9600.00.

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

S&P 500

The Index is consolidating at the top around 3011.5 and forming a Divergent Triangle pattern. Today, the asset may fall towards the pattern’s downside border at 2961.9.

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.