Forex Technical Analysis & Forecast 02.07.2020
EURUSD, “Euro vs US Dollar”
After completing the descending structure at 1.1184, EURUSD is growing towards 1.1287, thus forming a new consolidation range around 1.1240. After reaching 1.1287, the instrument may start another decline with the target at 1.1204.
GBPUSD, “Great Britain Pound vs US Dollar”
After forming another consolidation range around 1.2373 and breaking it upwards, GBPUSD continues growing to reach 1.2500. Today, the pair may reach it and then resume trading downwards to break 1.2408. Later, the market may continue falling inside the downtrend with the target at 1.2319.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still trading downwards to reach 69.96. After that, the instrument may resume trading upwards to break 70.50 and then continue growing with the target at 72.00. However, if the price falls and breaks 69.90 to the downside, the market may continue moving inside the downtrend to reach 68.00.
USDJPY, “US Dollar vs Japanese Yen”
to the downside, the market may form a new descending structure with the first downside target at 106.80; if to the upside – resume trading upwards to reach 108.20 and then start a new decline with the above-mentioned target.
USDCHF, “US Dollar vs Swiss Franc”
After completing the descending wave at 0.9444, USDCHF is forming another consolidation range not far from the lows. If later the price breaks this range to the downside at 0.9440, the market may continue the correction with the target at 0.9400; if to the upside at 0.9490 – resume trading upwards to reach 0.9540.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed the consolidation range around 0.6902. If later the price breaks this range to the upside, the market may form another ascending structure with the target at 0.6971; if to the downside – resume trading downwards to reach 0.6783.
BRENT
Brent is consolidating around 41.70. Possibly, today the pair may trade upwards to reach 43.80 and then fall to return to 41.70. Later, the market may continue growing with the target at 45.20.
XAUUSD, “Gold vs US Dollar”
Gold is back to consolidating around 1770.00. If later the price breaks this range to the downside at 1750.00, the market may form a new descending structure with the target at 1734.34; if to the upside at 1778.50 – resume trading upwards to reach 1795.00.
BTCUSD, “Bitcoin vs US Dollar”
After finishing the ascending structure at 9280.00, BTCUSD is expected to start a new decline to break 9000.00. Later, the market may continue trading downwards with the target at 8700.00. And that’s just a half of another descending wave.
S&P 500
The Index is still consolidating around 3076.0 without any particular direction. Today, the pair may form one more ascending structure to reach 3150.5 and then resume trading inside the downtrend with the target at 3076.0.
