Forex Technical Analysis & Forecast 20.11.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
20.11.2018EURUSD, “Euro vs US Dollar”
The American currency is getting weaker, that’s why EURUSD is trading upwards and extending the correction. Possibly, the price may reach 1.1470 and then fall towards 1.1380. After that, the instrument may form one more ascending structure to reach 1.1435 and then start a new decline with the first target at 1.1344.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has completed another consolidation range around 1.2848. Possibly, today the price may form one more ascending structure to reach 1.2880 and then resume falling with the short-term target at 1.2710.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has finished the consolidation range around 1.0007, broken it to the downside, and reached the first target at 0.9920. Today, the pair may grow to return to 1.0007 and then form a new descending structure towards 0.9888. Later, the market may resume trading inside the uptrend with the target at 1.0200.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still trading downwards; it has completed another consolidation range around 112.62. Possibly, the price may continue trading inside the downtrend with the short-term target at 111.16.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has broken the channel of the fifth ascending structure and right now is trading downwards with the target at 0.7242. Later, the market may start another growth to reach 0.7288 and then resume trading inside the downtrend towards 0.7155.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is consolidating above 65.60. If later the instrument breaks this range to the upside, the price may start a new correction to reach 66.92; if to the downside – resume trading inside the downtrend with the short-term target at 63.03.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating; it has already reached 1220.70. Possibly, today the price may reach 1216.75 and then start another growth to return to 1220.70. After that, the instrument may resume falling with the first target at 1207.45.
BRENT
Brent is still consolidating around 67.35. Today, the pair may reach the short-term target at 68.68 and then resume falling towards 66.50. After that, the instrument may form one more ascending structure with the first target at 69.69.
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.