Forex Technical Analysis & Forecast 02.06.2020
EURUSD, “Euro vs US Dollar”
EURUSD is consolidating around 1.1111. If later the price breaks the range to the downside at 1.1111, the market may correct with the target at 1.1000; if to the upside at 1.1155 – resume trading upwards to reach 1.1193 and then start a new correction towards the above-mentioned target.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the ascending wave at 1.2518, GBPUSD is falling towards 1.2450. After that, the instrument may start a new growth to reach 1.2488, thus forming a new consolidation range between these two levels. According to the main scenario, the price is expected to correct with the target at 1.2398.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still falling towards 68.80. Possibly, the pair may reach it and then grow to return to 70.10. After that, the instrument may resume trading inside the downtrend with the target at 68.08.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is forming another ascending structure towards 107.88, which may be followed by a new decline to reach 107.67. Later, the market may resume trading upwards with the target at 108.15.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the ascending impulse at 0.9625, USDCHF has completed the correction at 0.9600. Possibly, today the pair may consolidate above this level. If later the price breaks the range to the upside, the market may grow to reach 0.9655; if to the downside – resume trading downwards with the target at 0.9566.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating above 0.6777. Possibly, the pair may break the range to the downside and resume falling with the first target at 0.6680.
BRENT
After reaching 38.75, Brent is expected to fall towards 36.75. After that, the instrument may resume trading upwards with the short-term target at 39.01 and then start a new correction towards 31.00.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating around 1738.70. Today, the pair may form one more ascending structure with the short-term target at 1750.00. After that, the instrument may correct to reach 1731.50 and then resume trading upwards with the target at 1775.50.
BTCUSD, “Bitcoin vs US Dollar”
After completing the correction at 9500.00, BTCUSD has finished another ascending impulse to reach the target at 10300.00; right now, it is correcting. Possibly, the pair form a new descending structure to reach 9900.00 and then resume trading upwards with the target at 10400.00.
S&P 500
The Index is consolidating around 3040.8. Today, the asset may grow to reach 3085.0 and then form a new descending structure to return to 3040.8. After that, the instrument may start another growth with the target at 3160.5.
