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Forex Technical Analysis Forecast 18.08.2021

EURUSD, Euro vs US DollarAfter finishing the descending wave at 1.1710, EURUSD is consolidating around this level. Possibly, today the pair may reach 1.1690 and then form one more ascending structure towards 1.1800. Later, the market may fall to break 1.1650 and then continue trading downwards with the target at 1.1600.GBPUSD, Great Britain Pound vs US DollarAfter completing the descending wave at 1.3733, GBPUSD is consolidating. Today, the pair may fall towards 1.3700 and then grow to reach 1.3807, thus forming a new consolidation range between these two levels. If the price breaks this range to the downside, the market may resume falling with the target at 1.3650; if to the upside form one more ascending structure towards 1.4000 and then start a new decline to reach the abovementioned target.USDRUB, US Dollar vs Russian RubleUSDRUB is still consolidating around 73.33. Possibly, the pair may correct and expand the range up to 73.63 to test it from below. Later, the market may resume trading downwards to break 73.00 and then continue falling with the target at 72.00.USDJPY, US Dollar vs Japanese YenAfter forming a new consolidation range around 109.50 and breaking it to the upside, USDJPY is expected to choose an alternative scenario and correct towards 109.90. At the same time, the main scenario implies a further downtrend with the first target at 108.00.USDCHF, US Dollar vs Swiss FrancAfter completing the ascending wave at 0.9151 and rebounding from this level, USDCHF…

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