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Forex Technical Analysis & Forecast 02.02.2018 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

EUR/USD has broken 1.2442 and formed an upside continuation pattern; it has reached the target of another ascending structure at 1.2500 and right now is consolidating. Today, the price may fall to reach 1.2481 and then grow towards 1.2500, thus forming another consolidation range. If later the instrument breaks this range to the downside, the market may fall to reach 1.2442; if to the upside – continue moving upwards with the target at 1.2550.

EURUSDRisk 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”

GBP/USD has broken 1.4217 and formed a continuation pattern. Possibly, the price may form another ascending structure with the target at 1.4300 and then fall towards 1.4217, thus forming another consolidation range.  If later the instrument breaks this range to the downside, the market may fall to reach 1.3925; if to the upside – start another growth towards 1.4400.

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

USD CHF, “US Dollar vs Swiss Franc”

USD/CHF has expanded its consolidation range upwards and reached the target at 0.9257; right now, it is consolidating. Taking into account that the ascending impulse is weak, the price may yet update the lows and reach 0.9247 and then grow towards 0.9300, thus forming a new consolidation range. If later the instrument breaks this range to the upside, the market may continue moving upwards to reach 0.9460.

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

USD JPY, “US Dollar vs Japanese Yen”

USD/JPY has broken its consolidation range, formed an upside continuation pattern, and may start the structure towards 110.13. Later, the market may be corrected to reach 109.35 and then resume trading to the upside towards 110.45. This entire five-wave structure is considered as a correction. After that, the instrument may start a new decline to reach 108.14.

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

AUD USD, “Australian Dollar vs US Dollar”

AUD/USD has formed a downside continuation pattern. The short-term target is at 0.7966.  After that, the instrument may grow towards 0.8040 and then continue trading to the downside to reach 0.7899.

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

USD RUB, “US Dollar vs Russian Ruble”

USD/RUB is still consolidating near the lows. If later the price breaks this range to the downside, the market may fall to reach 55.26; if to the upside – start another growth towards 57.20.

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

XAU USD, “Gold vs US Dollar”

Gold has broken its consolidation range upwards and may grow to reach 1353.00. Later, the market may start another decline towards 1330.00.

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

BRENT

Brent has broken 69.10 and formed a continuation pattern. Possibly, today the price may grow towards 70.15, break it, and then continue moving upwards with the target at 71.15. After that, the instrument may start a new decline to reach 69.15.

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

 

RoboForex Analytical Department

 



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