19 August 2020

Forex technical analysis and forecast: Majors, equities and commodities

EUR/USD, “Euro vs US Dollar”

After finishing the ascending structure at 1.1894 and then forming a new consolidation range around this level, EURUSD has broken it to the upside to reach 1.1964 and may continue trading upwards with the target at 1.2080. Today, the pair may fall to test 1.1906 from above and then form one more ascending structure to reach the above-mentioned target. However, if the price rebounds from 1.1950 and breaks 1.1900, the market may start another correction towards 1.1850.

https://www.investing.com/charts/forex-charts

GBP/USD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.3263, GBPUSD is falling towards 1.3208 and may later grow to reach 1.3232, thus forming a new consolidation range. If the price breaks this range to the downside, the market may start a new correction towards 1,3155; if to the upside – expand the range up to 1.3300.

https://www.investing.com/charts/forex-charts

USD/CHF, “US Dollar vs Swiss Franc”

After breaking 0.9070 to the downside, USDCHF has reached 0.9020. Possibly, today the pair may return to 0.9070 and test it from below. After that, the instrument may resume moving downwards with the target at 0.9000.

https://www.investing.com/charts/forex-charts

https://www.fxstreet.com/analysis/forex-technical-analysis-and-forecast-majors-equities-and-commodities-202008190733

The Company gives no representation, warranty or guarantee as to the accuracy, correctness or completeness of this information. The information contained in this market review should not be construed in any way, as containing investment advice and/or a suggestion and/or solicitation for any trading activity and financial transaction.

Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance.

Risk disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.