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Forex Technical Analysis & Forecast 01.02.2018 (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 rebounded from 1.2474 and started forming another descending impulse. We think, today the price may reach 1.2385, break it, and then continue trading to the downside with the short-term target at 1.2340. In fact, the market is expected to form a continuation pattern. The target of the wave is at 1.2297.

EURUSD
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

GBP/USD GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating. Possibly, the price may break this range to the downside and then start forming the fifth structure to reach the first target at 1.3950.

GBPUSD
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still consolidating near the lows. Possibly, the price may form another descending structure to reach 0.9270. After that, the instrument may grow towards the first target at 0.9465.

USDCHF
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair continues consolidating close to the lows. Possibly, today the price may form a new ascending structure towards 109.61. Later, in our opinion, the market may resume moving downwards to reach 108.14 and then start a new growth with the first target at 110.50.

USDJPY
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has formed another consolidation range and right now is breaking it downwards. The short-term target is at 0.7966.  After that, the instrument may grow towards 0.8004 and then continue trading to the downside to reach the first target at 0.7899.

AUDUSD
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still moving upwards; the predicted target is at 56.56. After that, the instrument may fall to reach 56.05 and then resume growing with the target at 56.90.

USDRUB
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

XAU USD, “Gold vs US Dollar”

Gold is consolidating near the lows of the first wave. If later the price breaks this range to the downside, the market may fall to reach 1315.00; if to the upside – start another correction towards 1353.00.

GOLD
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

BRENT

Brent has returned to 69.08. We think, today the price may continue forming the third structure. The target is at 67.44. Later, in our opinion, the market may grow to return to 69.08 and then start another decline to reach 66.94.

BRENT
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

RoboForex Analytical Department

 



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