Forex Technical Analysis & Forecast 03.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
EURUSD has completed the ascending impulse towards 1.1090; right now, it is consolidating around 1.1085. Possibly, the pair may form a new descending structure towards 1.1075 and then start another growth to return to 1.1085, thus forming an upside continuation pattern. If later the price breaks 1.1095 to the upside, the market may continue growing towards 1.1120; if 1.1075 to the downside – start a new correction with the target at 1.1057.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has returned to 1.3200; right now, it is consolidating above 1.3170. Possibly, the pair may form one more ascending structure towards 1.3215 and then start another correction with the target at 1.3100.
USDCHF, “US Dollar vs Swiss Franc”
After finishing the descending structure towards 0.9644, USDCHF is consolidating below this level. Possibly, today the pair may resume falling to break 0.9611 and then continue trading inside the downtrend with the target at 0.9592.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has completed the descending structure at 108.56; right now, it is consolidating below this level. Today, the pair may expand the range down to 108.04. However, if the price breaks 108.57 to the upside, the market may start a new correction with the target at 108.91.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the descending structure towards 0.6682, AUDUSD is consolidating above it. Possibly, the pair may break this range to the upside and resume trading upwards with the target at 0.6730.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is moving upwards. Possibly, the pair may reach 64.15 and then form a new descending structure to break 63.60. Later, the market may resume trading downwards with the first target at 63.15.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is growing towards 1.3259. Possibly, today the pair may reach this level and then start a new decline towards 1.3222. If the price breaks this level to the downside, the market may continue the correction with the target at 1.3185.
XAUUSD, “Gold vs US Dollar”
After finishing the impulse towards 1583.75 and forming another consolidation range around it, Gold has broken the range to the downside. Today, the pair may test 1583.75 from below and then resume trading downwards with the first target at 1574.57.
BRENT
After updating 55.83 and completing the ascending impulse towards 56.64, Brent has finished the correction at 56.05. Possibly, the pair may form one more ascending structure with the short-term target at 57.36.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is consolidating around 9330.00. The main scenario implies that the pair may break the range to the upside and start a new growth with the short-term target at 10044.00. After that, the instrument may correct towards 8500.00.
