Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Forex Technical Analysis Forecast for December 2021

Posted: 30 Nov 2021 04:06 PM PST

EURUSD, Euro vs US DollarAs we can see in the daily chart, EURUSD is forming the fifth structure of the descending wave with the target at 1.1170 at least. By now, the pair has already tested 1.1380. Possibly, the pair may rebound from this level and resume falling to reach the abovementioned target. The structure of this descending wave implies that it may reach 1.1110. After that, the instrument may start a new pullback towards 1.1717; the first correctional target will be at 1.1380.GBPUSD, Great Britain Pound vs US DollarIn the daily chart, GBPUSD has completed the third descending wave at 1.3194. However, the last structure of the wave implies that it may be extended down to 1.3130. After reaching the latter level, the instrument may start another pullback towards 1.3600; the first correctional target at 1.3370.USDRUB, US Dollar vs Russian RubleAs we can see in the daily chart, after completing the ascending correction at 75.80, USDRUB is expected to break the correctional channel and resume trading within the downtrend to reach. The first downside target is at 71.85.USDJPY, US Dollar vs Japanese YenIn the daily chart, USDJPY has finished the correction at 112.80. Possibly, the pair may start a new growth towards 116.40. The first upside target is at 114.44.BRENTAs we can see in the daily chart, Brent has completed the correction at 67.70; right now, it is forming a new wave to the upside to reach 77.00. Later, the market may start another correction towards 72.20 and...

Fibonacci Retracements Analysis 01.12.2021 GBPUSD, EURJPY

Posted: 30 Nov 2021 03:09 PM PST

GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, after failing to test the longterm 38.2 fibo at 1.3166, the asset is forming a new pullback to the upside. However, it doesnt mean that the descending tendency is over. Convergence on MACD is another signal in favour of the ascending correction. A breakout of the local low at 1.3194 will lead to a further downtrend towards the longterm target. The key resistance is at 1.3834.The H1 chart shows a more detailed structure of the current growth towards 23.6 fibo at 1.3345. After a slight pullback, the correctional uptrend may continue to reach 38.2 and 50.0 fibo at 1.3438 and 1.3514 respectively.EURJPY, Euro vs. Japanese YenThe daily chart shows that after falling and reaching 50.0 fibo, EURJPY is correcting upwards. After the pullback is over, the asset may continue falling towards 61.8 fibo at 126.40. Later, the market may start a new uptrend to reach the high at 134.12.As we can see in the H4 chart, after testing and breaking the midterm 50.0 fibo, EURJPY is correcting upwards; right now, it is approaching 23.6 fibo at 128.90 and may later continue towards 38.2 and 50.0 fibo at 129.78 and 130.48 respectively. The support is the low at 127.49.

Forex Technical Analysis Forecast 01.12.2021

Posted: 01 Dec 2021 12:24 AM PST

EURUSD, Euro vs US DollarAfter completing the descending impulse at 1.1239, EURUSD is correcting towards 1.1347. Later, the market may resume falling to break 1.1230 and then continue trading downwards with the target at 1.1133.GBPUSD, Great Britain Pound vs US DollarAfter finishing the descending impulse at 1.3195, GBPUSD is correcting upwards and may reach 1.3342. Later, the market may resume falling with the target at 1.3168.USDRUB, US Dollar vs Russian RubleUSDRUB has completed the descending wave at 74.19. Possibly, today the pair may consolidate around this level. After that, the instrument may break the range to the downside and resume trading downwards with the shortterm target at 73.70.USDJPY, US Dollar vs Japanese YenUSDJPY has finished the descending wave at 112.53 and may later start a new growth towards 114.20, thus forming a new consolidation range around the latter level. If later the price breaks this range to the downside, the market may continue the correction to reach 112.00; if to the upside form one more ascending structure with the target at 115.00.USDCHF, US Dollar vs Swiss FrancUSDCHF has completed the ascending impulse at 0.9265 along with the correction towards 0.9197. Possibly, today the pair may form one more ascending structure to break 0.9265 and then continue trading upwards with the shortterm target at 0.9333.AUDUSD, Australian Dollar vs US DollarAUDUSD has finished the descending wave at 0.7062; right now, it is correcting towards 0.7189....
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