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Forex Technical Analysis & Forecast for July 13, 2020

By:
Dmitriy Gurkovskiy
Published: Jul 13, 2020, 08:01 UTC

Daily forecast and trading signals of forex majors, commodities, cryptocurrencies and indices.

collection of various currencies from countries around the world

In this article:

EURUSD, “Euro vs US Dollar”

After completing the descending wave at 1.1255, EURUSD is moving upwards to reach 1.1338. Possibly, the pair may reach it and then form a new descending structure towards 1.1300. After that, the instrument may start another growth to reach 1.1380 and then resume trading downwards with the target at 1.1225.

EURUSD

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving upwards. Possibly, today the pair may reach 1.2694 and then fall towards 1.2640. Later, the market may form one more ascending structure to reach 1.2712 and then start a new decline with the target at 1.2585.

GBPUSD

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 70.20. Later, the market may form one more ascending structure to reach 70.90 and then start a new decline with the first target at 69.50.

USDRUB

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 106.93; right now, it is falling. Possibly, the pair may form a new descending structure towards 106.55 and then start another correction to the upside with the first target at 107.17.

USDJPY

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.9399, USDCHF is expected to continue falling towards 0.9377. After that, the instrument may grow to reach 0.9440 and then resume trading inside the downtrend to return to 0.9399.

USDCHF

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6960 to the upside, AUDUSD is still growing and may form one more ascending structure to reach 0.6994. Later, the market may start a new decline towards 0.6965 and then resume trading upwards with the target at 0.7000.

AUDUSD

BRENT

After finishing the correction at 41.41, Brent has completed another ascending impulse towards 43.50. Today, the asset may form a new descending structure towards 42.50 and then grow to break 43.50. After that, the instrument may continue moving upwards with the short-term target at 44.55.

BRENT

XAUUSD, “Gold vs US Dollar”

After falling and reaching 1794.00, Gold is correcting towards 1805.50. Later, the market may form a new descending structure with the first target at 1792.50 and then start another correction to return to 1805.50.

GOLD

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 9260.00. Today, the pair may fall towards 9060.00 and then form one more ascending structure to reach 9190.00. After that, the instrument may start a new decline with the short-term target at 8700.00.

BITCOIN

S&P 500

After breaking 3180.1 to the upside, the Index may continue growing towards 3240.5. After that, the instrument may correct to return to 3180.1 and then form one more ascending structure to reach 3300.5. Later, the market may resume trading downwards with the first target at 3100.6.

S&P 500

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.

About the Author

Dmitriy has Masters Degree in Finance from London School of Economics and Political Science, and a Masters Degree in Social Psychology from National Technical University of Ukraine. After receiving postgraduate degree he began working as the Head of Laboratory of Technical and Fundamental Analysis of Financial Markets at the International Institute of Applied Systems Analysis. The experience and skills he gained helped him to realize his potential as an analyst-trader and a portfolio manager in an investment company.

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