Forex Technical Analysis & Forecast by RoboForex

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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.

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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.

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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.

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Fibonacci Retracements Analysis 27.11.2020 (BITCOIN, ETHEREUM)​

BTCUSD, “Bitcoin vs US Dollar”

In the H4 chart, there was a divergence on MACD, which made BTCUSD plummet after entering the post-correctional extension area between 138.2% and 161.8% fibo at 17660.00 and 20000.00 respectively. such a movement may be considered as a new correction, which may be followed by further growth to update the high. By now, the correctional downtrend has reached 23.6% fibo and may yet continue towards 38.2% and 50.0% fibo at 15923.00 and 14820.00 respectively. The resistance is the high at 19509.10.

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Ichimoku Cloud Analysis 30.11.2020 (GBPUSD, BTCUSD, GBPJPY)​

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3342 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud near 1.3295 is expected, followed by growth to 1.3625. An additional signal confirming the growth will be a bounce off the lower border of the Triangle pattern. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.3195, which will mean further decline to 1.3105. The growth will be confirmed by a breakaway of the resistance area and securing above 1.3415, which will mean a breakaway of the upper border of the Triangle.

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Fibonacci Retracements Analysis 01.12.2020 (EURUSD, USDJPY)​

EURUSD, “Euro vs US Dollar”

On H4, the quotations have corrected in the form of a Triangle and are approaching a long-term high of 1.2011. Upon reaching this one, the quotations might reach the long-term level of 76.0% (1.2094) and even rise to the post-correctional extension range of 138.2-161.8% (1.2167-1.2262) Fibo. While the wave of growth is developing, there is a divergence forming on the MACD, which might precede a bounce off the high. In such a case, we might expect either a short-term correction or a full-scale wave of decline to the fractal support level of 1.1603.

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Forex Technical Analysis & Forecast 02.12.2020​

EURUSD, “Euro vs US Dollar”

The pair has reached the estimated goal of the wave of growth to 1.2030. For now, the market is pushed upwards. Today, the level of 1.2085 might be reached, followed by a decline to 1.2030. If this level is broken through downwards, the price might go deeper to 1.1980. The goal is first.

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Murrey Math Lines 03.12.2020 (USDCHF, GOLD)​

USDCHF, “US Dollar vs Swiss Franc”

On H4, USDCHF quotations are trading under the 200-days Moving Average, which means a downtrend is prevailing. Nonetheless, the price is already approaching the oversold area. Hence, we expect a test of 0/8, a bounce off it, and growth to the resistance level at 2/8. This growth should be interpreted as a correction. The scenario will no longer be valid if the price breaks through 0/8 top-down, which miht lead the quotations to the support level of -2/8.

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Japanese Candlesticks Analysis 04.12.2020 (USDCAD, AUDUSD, USDCHF)​

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD keeps forming a downtrend. The pair has formed several reversal patterns near the support level, including a Harami. The signals from the patterns might drive the price into a correction to 1.2920. However, the downtrend still might continue neglecting the signals, aiming at 1.2790.

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Ichimoku Cloud Analysis 07.12.2020 (BTCUSD, BRENT, USDJPY)​

BTCUSD, “Bitcoin vs US Dollar”

Cloud near 18,915 is expected, followed by growth to 20,715. An additional signal for growth might be a bounce off the lower border of the Triangle pattern. The growth might be canceled by a breakaway of the lower border of the Cloud and securing under 17,855, which will mean further falling to 17,055. The growth can be confirmed by a breakaway of the upper border of the Triangle and securing under 19,895.

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Fibonacci Retracements Analysis 08.12.2020 (EURUSD, USDJPY)​

EURUSD, “Euro vs US Dollar”

On H4, the quotations overcame the long-term high of 1.2011 and paused in the uptrend. The pair might be on the verge of a descending correction. When it is over, we can expect a new wave of growth to a post-correctional extension range of 138.2-161.8% (1.2167-1.2262) Fibo. The main support is at the fractal level of 1.1603.

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Forex Technical Analysis & Forecasr 09.12.2020​

EURUSD, “Euro vs US Dollar”

The currency pair keeps forming a consolidation range around 1.2116. Today, it might extend upwards to 1.2155. Then it the pair might decline to 1.2080. Practically, we consider a correction to 1.2080. When it is over, growth to 1.2282 might start.

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Murrey Math Lines 10.12.2020 (USDCHF, GOLD)​

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotations are trading under the 200-days Moving Average, which hints on the prevalence of a downtrend. However, the price is already in the oversold area. Hence, we expect a breakaway of 0/8 and further growth to the resistance at 2/8. This will be interpreted as a correction. The scenario can be canceled by a breakaway of -1/8 top-down, which might drive the quotations deeper down, to the support at -2/8.

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Japanese Candlesticks Analysis 11.12.2020 (GOLD, NZDUSD, GBPUSD)​

XAUUSD, “Gold vs US Dollar”

Gold is completing a correction of the ascending dynamics. At the support level, it has formed a Harami. Currently, the resistance pattern can drive the price upwards, to the resistance level. The aim is at 1880.00. However, the quotations might still return to 1820.00 before resuming growth.

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Fibonacci Retracements Analysis 15.12.2020 (EURUSD, USDJPY)​

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after completing a short-term pullback, EURUSD is moving towards the high to break it. The next rising wave will be heading to reach the post-correctional extension area between 138.2% and 161.8% fibo at 1.2167 and 1.2262 respectively. The key support is the fractal at 1.1603, while the short-term one is at 1.2011.

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Forex Technical Analysis & Forecast 16.12.2020​

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.2121 and then returning to 1.2150, EURUSD is consolidating around the latter level. Possibly, today the pair may expand the range up to 1.2188 and then start a new decline towards 1.2119. If later this level is broken, the market may continue trading downwards with the target at 1.2050.

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Murrey Math Lines 17.12.2020 (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, the price is expected to continue falling to reach the closest support at 0/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 2/8.

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Japanese Candlesticks Analysis 18.12.2020 (EURUSD, USDJPY, EURGBP)​

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the correction within the ascending tendency continues. Right now, after forming several reversal patterns, such as Shooting Star, close to the horizontal resistance level, EURUSD may reverse in the form of another correction with the target at 1.2170. After completing the correction, the pair may resume trading upwards. In this case, the upside target may be at 1.2300. Later, the market may continue its growth.

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Ichimoku Cloud Analysis 21.12.2020 (XAUUSD, AUDUSD, EURUSD)​

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1906.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1895.00 and then resume moving upwards to reach 1945.00. 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 1860.00. In this case, the pair may continue falling towards 1805.00.

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Fibonacci Retracements Analysis 22.12.2020 (EURUSD, USDJPY)​

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is forming a new descending impulse within the post-correctional extension area between 138.2% and 161.8% fibo at 1.2167 and 1.2262 respectively after a divergence on MACD. The key downside targets may be 23.6%, 38.2%, and 50.0% fibo at 1.2115, 1.2018, and 1.1937 respectively. If the price breaks the high at 1.2273, the asset may continue growing to reach the long-term fractal high at 1.2555.

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