Forex Technical Analysis & Forecast 07.02.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD has reached its short-term downside target; right now, it is consolidating near the lows. Possibly, the pair may expand this range towards 1.1352 and then form one more ascending structure with the first target at 1.1383. Later, the market may resume falling to reach 1.1369 and then start a new growth with the target at 1.1414. After that, the instrument may form a new descending structure towards 1.1335.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD continues moving downwards. Possibly, today the pair may reach the short-term target at 1.2915 and then form one more ascending structure to break 1.2974. After that, the instrument may continue trading upwards to reach 1.3033 and then resume falling with the target at 1.2857.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has reached another upside target. Today, the pair may start a new decline towards 1.0003 and then form one more ascending structure to reach 1.0040. Later, the market may resume falling to return to 1.0003 and then continue trading upwards with the target at 1.0055.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has finished the descending impulse; it is trading upwards to reach 109.30. After that, the instrument may form a new descending structure to break 109.72 and then continue trading inside the downtrend towards 109.50. However, if the instrument breaks 110.02 to the upside, the price may start a new growth with the target at 110.30.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has reached the short-term downside target. Possibly, today the pair may consolidate near the lows. If the instrument breaks this range to the upside, the price may resume growing to reach 0.7184; if to the downside – continue trading inside the downtrend with the target at 0.7077.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is trading upwards. Possibly, the pair may break 65.78 upwards. The short-term target is at 66.16. Later, the market may start a new decline to return to 65.78 and then form one more ascending structure with the target at 66.37.
XAUUSD, “Gold vs US Dollar”
Gold has broken 1309.09 downwards; right now, it is still falling with the short-term target at 1301.17. After that, the instrument may resume growing to return to 1309.09 and then form a new descending structure with the target at 1292.47.
BRENT
Brent has completed another ascending structure at 62.62. Today, the pair may trade to the downside to reach 61.80 and then border resume growing with the target at 63.23. Later, the market may fall to return to 62.62 and then continue trading upwards towards 63.95.
