Forex Technical Analysis & Forecast for June 23, 2020
EUR/USD, “Euro vs US Dollar”
After completing the ascending structure at 1.1255, EUR/USD is consolidating around this level. Possibly, today the pair may grow to reach 1.1310 and then fall to break 1.1200. Later, the market may continue trading downwards with the target at 1.1100.
GBP/USD, “Great Britain Pound vs US Dollar”
After finishing the correction at 1.2500, GBP/USD is consolidating below this level. If later the price breaks this range to the upside to 1.2500, the market may continue the correction towards 1.2545; if to the downside at 1.2440 – form a new descending structure with the target at 1.2380.
USD/RUB is falling towards 69.01. After that, the instrument may correct to reach 69.49 and then resume trading downwards with the target at 68.40.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has completed the ascending structure at 107.20. Today, the pair may fall towards 106.95 and then start another growth to reach 107.25, thus forming a new consolidation range. Later, the market may break the range to the upside and resume trading upwards with the target at 108.20.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is still correcting towards 0.9450. After that, the instrument may form one more ascending structure to break 0.9500 and then continue trading upwards with the target at 0.9550.
AUD/USD, “Australian Dollar vs US Dollar”
After completing the ascending wave at 0.6915, AUD/USD is expected to consolidate around it. If later the price breaks this range to the downside, the market may resume trading downwards to reach 0.6780; if to the upside – form one more ascending structure with the target at 0.6975.
BRENT
Brent continues forming the ascending wave towards 43.43. Later, the market may start a new correction towards with the first target at 41.65 and then resume growing to reach 42.50.
XAU/USD, “Gold vs US Dollar”
After finishing the ascending wave at 1762.50, Gold has completed the descending impulse towards 1747.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may correct to reach 1735.65; if to the upside – form one more ascending structure with the target at 1800.00.
BTC/USD, “Bitcoin vs US Dollar”
After finishing the ascending structure at 9700.0, BTC/USD is expected to start a new decline to break 9255.00 and then continue falling inside the downtrend with the target at 8800.00
S&P 500
After returning to 3115.5, the Index is still consolidating around this level. If later the price breaks this range to the downside at 3060.5, the market may resume trading downwards to reach 2958.6; if to the upside at 3150.0 – form one more ascending structure with the target at 3235.5.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
Disclaimer
Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
