Forex Technical Analysis & Forecast by RoboForex

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Ichimoku Cloud Analysis 16.11.2020 (EURJPY, NZDUSD, BTCUSD)

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 123.85; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 123.45 and then resume moving upwards to reach 125.65. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 122.95. In this case, the pair may continue falling towards 121.95. To confirm further growth, the asset must break the upside border of a Flag pattern and fix above 124.55.



Read more - Ichimoku Cloud Analysis EURJPY, NZDUSD, BTCUSD

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Japanese Candlesticks Analysis 17.11.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after plunging within the ascending tendency, the asset is trying to regain its positions. After forming several reversal patterns, such as Harami, close to the support area, XAUUSD is expected to reverse and start another rising impulse. In this case, the upside target will be the resistance area at 1930.00. 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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Forex Technical Analysis & Forecast 18.11.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.1890, EURUSD is expected to correct towards 1.1815. Later, the market may grow to break 1.1890 and then continue moving within the uptrend with the target at 1.1970.



Read more - Forex Technical Analysis & Forecast 18.11.2020

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Murrey Math Lines 19.11.2020 (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 an ascending tendency. In this case, the price is expected to continue falling to reach 1/8. Another signal in favor of further decline is a rebound from 3/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.



Read more - Murrey Math Lines USDCHF, GOLD

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Fibonacci Retracements Analysis 20.11.2020 (BITCOIN, ETHEREUM)

BTCUSD, “Bitcoin vs US Dollar”

The daily chart shows a quick and steady growth towards the al-time high. After breaking the fractal at 13857.20, BTCUSD is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 17660.00 and 20000.00 respectively. If the asset decides to start a new pullback, its target will be at 13857.20, which now acts as the support.



Read more - Fibonacci Retracements Analysis BITCOIN, ETHEREUM

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Ichimoku Cloud Analysis 23.11.2020 (AUDUSD, EURJPY, XRPUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7314; 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 at 0.7300 and then resume moving upwards to reach 0.7460. Another signal in favor of further uptrend will be a rebound from the downside border of an Ascending Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7155. In this case, the pair may continue falling towards 0.7065. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.7375.



Read more - Ichimoku Cloud Analysis AUDUSD, EURJPY, XRPUSD

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Japanese Candlesticks Analysis 24.11.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after finishing the correction and forming several reversal patterns, such as Doji, close to the support area, EURUSD is reversing. The upside target remains at 1.1970. After that, the instrument may continue moving upwards. However, an alternative scenario implies that the price may start a new pullback to return to 1.1810 before resuming the uptrend.



Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

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Forex Technical Analysis & Forecast 25.11.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.1880 along with the correction towards 1.1850, EURUSD is growing to reach 1.1900. Possibly, the pair may break this level and then continue trading upwards with the target at 1.1964. After that, the instrument may start a new correction to test 1.1900 from above and then form one more ascending structure to reach 1.2000.



Read more - Forex Technical Analysis & Forecast 25.11.2020

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Murrey Math Lines 26.11.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 3/8.



Read more - Murrey Math Lines USDCHF, GOLD