Forex Technical Analysis & Forecast 22.05.2020

2020-05-22 17:04    RoboForex

EURUSD, “Euro vs US Dollar”

EURUSD is trading downwards to reach 1.0922. Later, the market may correct towards 1.0969 and then resume trading inside the downtrend with the target at 1.0840.

Forex Technical Analysis & Forecast 22.05.2020 Institution Opinions

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling towards 1.2170. After that, the instrument may correct to reach 1.2222 and then continue trading downwards with the first target at 1.2100.


USDRUB, “US Dollar vs Russian Ruble”

USDRUB has extended the descending wave down to 70.70; right now, it is consolidating below this level. Today, the pair may correct towards 72.60 to test it from below and then resume trading inside the downtrend with the target at 69.44.


USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards to break 107.30. After that, the instrument may continue falling with the short-term target at 106.66.


USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9700 to the upside, USDCHF is expected to continue growing towards 0.9737. Later, the market may start a new correction to reach 0.9696 and then form one more ascending structure with the first target at 0.9750.


AUDUSD, “Australian Dollar vs US Dollar”

After reaching the downside target at 0.6533, AUDUSD is expected to consolidate above this level. If later the price breaks this range to the upside, the market may start a new correction to reach 0.6575; if to the downside – form a new descending structure with the target at 0.6478.


BRENT

Brent is correcting towards 33.33. After that, the instrument may resume trading upwards with the short-term target at 39.00 and then start another correction towards 32.50.


XAUUSD, “Gold vs US Dollar”

After finishing the descending wave at 1721.80, Gold is expected to form one more ascending wave to reach 1737.20 (at least). After that, the instrument may start a new decline towards 1710.10 and complete a Flag correctional pattern.


BTCUSD, “Bitcoin vs US Dollar”

After completing the correction at 8888.80, BTCUSD is expected to consolidate near the lows. If later the price breaks this range to the upside, the market may start a new growth to break 9500.00 and then continue trading upwards with the target at 10150.00; if to the downside – form a new descending structure to reach 8300.00.


S&P 500

The Index is consolidating not far from the downside border. Possibly, the pair may break 2920.0 downwards and start a new correction to reach 2888.5. Later, the market may form one more ascending structure with the target at 3012.5.


Technical Analysis

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