Forex Technical Analysis & Forecast by RoboForex

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Forex Technical Analysis & Forecast 26.10.2020

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1864, EURUSD is falling to reach 1.1818 and may later form one more ascending structure towards 1.1839. After that, the instrument may resume trading downwards to break 1.1772 and then continue falling with the target at 1.1688.



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Fibonacci Retracements Analysis 27.10.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD continues forming the rising wave. The closest upside target may be the high at 1.2011, a breakout of which may result in further growth towards the long-term 76.0% fibo at 1.2094. However, more significant targets may be inside the post-correctional extension area between 138.2% and 161.8% fibo at 1.2163 and 1.2256 respectively. But there is an alternative scenario, which says the asset may break the fractal support at 1.1612 and then continue falling to reach 38.2% and 50.0% fibo at 1.1520 and 1.1368 respectively.



Read more - Fibonacci Retracements Analysis EURUSD, USDJPY

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Ichimoku Cloud Analysis 28.10.2020 (BRENT, USDJPY, USDCAD)

BRENT

Brent is trading at 40.96; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 41.05 and then resume moving downwards to reach 39.65. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 42.25. In this case, the pair may continue growing towards 43.65.



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Murrey Math Lines 29.10.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average and rebounding from 3/8, thus indicating a descending tendency. In this case, today the price is expected to break 2/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and continue growing towards 5/8.



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Japanese Candlesticks Analysis 30.10.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after finishing the correction within the rising tendency and forming another Hammer pattern not far from the support area, XAUUSD may reverse and form one more slight correction, which may be followed by further decline. In this case, the downside target will be the support area at 1850.00. At the same time, an opposite scenario implies that the price may start another growth with the target at 1920.00.



Read more - Japanese Candlesticks Analysis GOLD, NZDUSD, GBPUSD

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Forex Technical Analysis & Forecast 02.11.2020

EURUSD, “Euro vs US Dollar”

EURUSD is falling towards 1.1625 and may later start a new correction to reach 1.1676. After that, the instrument may form one more descending structure to break 1.1625 and then continue trading downwards with the target at 1.1500.



Read more - Forex Technical Analysis & Forecast 02.11.2020

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Fibonacci Retracements Analysis 03.11.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the descending wave in EURUSD has reached the low at 1.1612. If the price breaks this level, the downtrend may continue towards 38.2% and 50.0% fibo at .1520 and 1.1368 respectively. But the current technical picture doesn’t exclude an alternative scenario, which says that after rebounding from the low the asset may form another rising impulse to reach 76.0% fibo at 1.1916, the high at 1.2011, and then the mid-term 76.0% fibo at 1.2094.



Read more - Fibonacci Retracements Analysis EURUSD, USDJPY

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Ichimoku Cloud Analysis 04.11.2020 (EURUSD, USDJPY, BTCUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1652; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1685 and then resume moving downwards to reach 1.1525. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1805. In this case, the pair may continue growing towards 1.1895.



Read more - Ichimoku Cloud Analysis EURUSD, USDJPY, BTCUSD

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Murrey Math Lines 05.11.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, today the price is expected to continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and continue growing towards 5/8.



Read more - Murrey Math Lines USDCHF, GOLD

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Japanese Candlesticks Analysis 06.11.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after forming several reversal patterns, such as Hammer, close to the support area, EURUSD has reversed; right now, it is forming another correction not far from the resistance area and may test 1.1770. After completing the pullback, the instrument may resume moving upwards with the target at the next resistance area at 1.1915.



Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

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Ichimoku Cloud Analysis 09.11.2020 (XAUUSD, CADJPY, USDCHF)

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1960.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1945.00 and then resume moving upwards to reach 1995.00. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1905.00. In this case, the pair may continue falling towards 1865.00.



Read more - Ichimoku Cloud Analysis XAUUSD, CADJPY, USDCHF

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Fibonacci Retracements Analysis 10.11.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, a convergence on MACD made EURUSD reverse after updating the low and grow towards 76.0% fibo. After testing this level and rebounding from it, the pair started a new correctional decline. The current movement may imply two possible scenarios. The first one says the asset may complete the correction quickly and then grow to break the high at 1.2011 or even reach the long-term 76.0% fibo at 1.2094. Another scenario suggests that the correction may transform into a proper descending wave to break the low at 1.1603 and then reach mid-term 38.2% fibo at 1.1520.



Read more - Fibonacci Retracements Analysis EURUSD, USDJPY

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Forex Technical Analysis & Forecast 11.11.2020

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.1818. Possibly, today the pair may grow towards 1.1860 and then form a new descending structure to reach 1.1760. After that, the instrument may start another growth to break 1.1860 and then continue trading upwards with the target at 1.1944.



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Japanese Candlesticks Analysis 12.11.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the instrument is quickly falling within the ascending tendency. After forming several reversal patterns, such as Harami, close to the support area, XAUUSD is expected to reverse and rebound from the channel’s downside border due to a strong rising tendency. In this case, the upside target will be the resistance area at 1945.00. At the same time, an opposite scenario implies that the price may start another decline to reach the support area at 1840.00 before resuming its ascending tendency.



Read more - Japanese Candlesticks Analysis GOLD, NZDUSD, GBPUSD

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Murrey Math Lines 13.11.2020 (Brent, S&P 500)

BRENT

As we can see in the H4 chart, Brent is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test 3/8, rebound from it, and then resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 2/8.



Read more - Murrey Math Lines Brent, S&P 500