Forex Technical Analysis & Forecast 26.02.2021

EURUSD, “Euro vs US Dollar”

After finishing another ascending wave at 1.2240, EURUSD is correcting towards 1.2136 (at least). After that, the instrument may resume trading upwards with the target at 1.2332.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4046, GBPUSD has formed a new consolidation range around this level; right now, it is moving downwards. Possibly, the pair may continue falling towards 1.3870 and then start another growth with the target at 1.4046.

USDRUB, “US Dollar vs Russian Ruble”

After finishing the descending structure at 73.35, USDRUB is correcting to reach 74.00. After that, the instrument may resume falling with the target at 73.00.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 106.40 along with the descending impulse towards 105.80, USDJPY is correcting to reach 106.20. Later, the market may resume trading downwards with the short-term target at 105.51.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9040. Today, the par may fall towards 0.9016 and then start a new growth with the target at 0.9040.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the ascending wave at 0.8000; right now, it is falling to reach 0.7763. After that, the instrument may form one more ascending structure with the target at 0.7877.

BRENT

Brent has finished another ascending structure towards 66.75; right now, it is correcting to reach 65.20 and then form a new consolidation range between these two levels. Later, the market may break the range to the upsides and resume moving upwards with the target at 69.00.

XAUUSD, “Gold vs US Dollar”

After reaching the downside target at 1779.30 and then forming a new consolidation range around this level, Gold has broken it to the downside. Possibly, the metal may continue falling within the downtrend with the target at 1752.52.

S&P 500

After finishing the correction at 3936.1, the S&P index is falling to break 3810.0. After that, the instrument may continue trading downwards with the short-term target at 3680.0.