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Forex Technical Analysis & Forecast 02.02.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has completed the descending structure and the correction. Possibly, today the price may form another descending structure and break 1.0720. the market is expected to form the wave with the target at 1.0673.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is trying to continue its growth and break 1.2650. the main scenario still implies that the price may fall towards 1.2510. An alternative one suggests that the instrument may extend the ascending structure to reach 1.2810.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has completed the ascending structure and the correction. Possibly, today the price may reach 0.9897. Later, in our opinion, the market may from another ascending wave with the target at 1.0000. In fact, the uptrend is expected to continue towards 1.0130.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is moving upwards with the target at. 114.16. Possibly, the price may form the fifth structure of this wave. After that, the instrument may be corrected towards 113.10.

 

AUD USD, “Australian Dollar vs US Dollar”

Being under pressure, the AUD/USD pair is moving upwards. Possibly, the price may reach 0.7700 and complete this ascending wave. Later, in our opinion, the market may fall towards 0.7360. the first target is at 0.7500.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has failed to form a new ascending wave and right now is falling towards 59.45. In fact, the market forming the consolidation range.

 

XAU USD, “Gold vs US Dollar”

Gold has attempted to break the top of the correctional structure. Possibly, today the price may continue falling inside the downtrend with the target at 1189, After breaking it, the instrument may form another descending wave with the target at 1160.

 

BRENT

Being under pressure, Brent is moving upwards; it has already broken 56.40 along with the upside border of the triangle pattern and may continue growing towards 59.90. Possibly, today the price may form another consolidation range as the uptrend continuation pattern.

 

RoboForex Analytical Department

 



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