Technical analysis for 23.10.2020
euro currency pair against the US dollar broke the level of 1.1826 with the form of a continuation of the wave of decline. The market has already achieved the local target of this wave – 1.1786. We expect a technical return to the level of 1.1826, test from below. Then – fall to 1.1771. The goal is the first. Once this level has been worked out, the probability of starting a correction to 1.1825 should be taken into account.
U.S. dollar is traded in a downward wave structure to 1.3043. Once worked out, consider the probability of adjustment to 1.3108. It then narrowed to 1.2977 with a forecast of 1.2915.
US dollar currency pair to the Russian ruble almost met the estimated target of the wave of decline – 76.40. Today, we will consider the likelihood of creating a scope for consolidation at low levels. Its expansion to 76.15 is not excluded. Then consider the probability of starting the correction at 77.00. If you break down from this level, it is possible to extend the wave of the drop to 75.75.
US dollar currency pair to Japanese yen continues to expand its consolidation range around 104.68. Today we expect the growth structure to be 105.03, test from below. Next, consider the probability of starting the next wave of decline to 103.88. The goal is the first.
US dollar currency pair to Swiss franc local growth wave target is 0.9090. A decrease to 0.9066 cannot be excluded at present. Next, we expect the next structure to grow to 0.9098. The goal is the first.
US dollar continues to expand its consolidation range around 0.7114. The “issue” price for extending the range to 0.7144 is not excluded. We will then consider the probability of starting the next wave of decline to 0.7077 with the prospect of reaching 0.7000.
Oil has formed a consolidation range around 42.27 and with the development of production, there was a link between growth and 42.82. Today we expect a drop to 42.27, a test in advance. Then consider the probability of rising to 43.53. And with its explosion upwards, the growth potential will open up to 44.22. If the market falls to 42.20 and its division down opens up the possibility of further correction to 41.50.
Gold rose to 1893.10. Today, the market has returned to 1903.40 and remains under it in terms of consolidation. With its exit, it does not rule out a link between growth and 1920.00 levels. With the way to continue the trend will open until 1878.50. The target is local.
Bitcoin market continues to trade in the consolidation range above the level of 12700. Today, the possibility of extending it to 13300 is not excluded. Then – drop to 12900. If it splits down it will open up the possibility of falling to 12,700 with the prospect of a correction to 12,000. In the event of a break from 12900 and a division into 13300, it will open up growth potential to 13700 with the prospect of continuing the trend towards 14000.
Stock Index At the moment, the market is creating a new scope of consolidation over it. It is not excluded to link the increase to 3470.1. Next, let’s look at the probability of a reduction to 3415.0. And if this level collapses, the potential for a drop to 3373.3 will open up with the prospect of the trend continuing to 3300.0.
Ind.) 101,000 Financial Market Forecasts are private opinions of the authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results of the work that may occur when using the trading recommendations of the presented reviews.