Forex Technical Analysis & Forecast 29.07.2020

July 29, 2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1700, EURUSD is consolidating below 1.1740. Possibly, the pair may break this level and form one more ascending structure to reach 1.1784. Later, the market may resume trading downwards to break 1.1700 and then continue falling with the target at 1.1580.

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”


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After completing the correction at 1.2836, GBPUSD is growing towards 1.2974. After that, the instrument may start a new decline to break 1.2840 and then continue falling with the target at 1.2645.

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

USDRUB, “US Dollar vs Russian Ruble”

After breaking 72.04, USDRUB is expected to continue growing towards 72.80. Later, the market may form a new descending structure to break 72.00 and then continue trading downwards with the target at 71.30.

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 finishing the correction at 105.67 and then falling to reach 105.00, USDJPY is consolidating below the latter level. Possibly, the pair may update 104.80 and then start a new correction to break 105.70. Later, the market may continue trading upwards with the target at 106.15.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9188. Today, the pair may start another decline to reach 0.9150 and then resume trading upwards to break 0.9233. After that, the instrument may continue growing with the target at 0.9318.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7132. Possibly, the pair may expand the range up to 0.7197 and then start a new decline to break 0.7070. After that, the instrument may continue trading downwards with the target at 0.7000.

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

BRENT

After completing the ascending impulse at 44.33 along with the correction towards 43.43, Brent is expected to return to 44.33 and break it to the upside. Later, the market may continue trading upwards with the target at 45.20. However, if the price falls and breaks 42.75 to the downside, the instrument may continue the correction towards 41.70.

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

XAUUSD, “Gold vs US Dollar”

After completing the descending impulse at 1906.60 and then returning to 1941.16, Gold has broken the latter level to the upside. Possibly, the pair may expand the range up to 1980.40. After that, the instrument may form a new descending structure with the target at 1901.60.

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

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending wave at 10560.00 along with the correction towards 11180.00, BTCUSD is expected to start another decline to break 10700.00. After that, the instrument may continue trading downwards with the short-term target at 10180.00.

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

S&P 500

The S&P 500 Index is falling towards 3202.2. Today, the asset may break this level to the downside and reach the predicted target at 3150.5. After that, the instrument may correct to test 3200.0 from below and then form a new descending structure with the target at 3111.1.

S&P 500

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.