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Forex Technical Analysis & Forecast 07.02.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is forming the third descending wave. Possibly, today the price may complete another structure to reach the short-term target at 1.2295. After that, the instrument may start another growth towards 1.2365.

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

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the target of the fifth descending wave and completed the five-wave structure; right now, it is consolidating near the lows. Today, the price may fall to reach 1.3821 and then resume growing towards 1.4045 (at least). Later, the market may start another descending wave to break 1.3788.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the third ascending wave with the target at 0.9407. After that, the instrument may fall towards 0.9352 and then continue moving upwards to reach 0.9445.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.40. If later the instrument breaks this range to the downside, the market may continue the fourth correctional wave to reach 108.42; if to the upside – start the fifth ascending wave towards 110.60.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has rebounded from 0.7908 downwards. Possibly, the price may fall to reach 0.7815 and then grow to return to 0.7908. After that, the instrument may resume trading to the downside with the target at 0.7772.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still being corrected; it has already reached the short-term correctional target. Today, the price may trade to the downside to reach 56.56 and then start another growth towards 57.57, thus completing the correction. Later, the market may start the fifth descending structure with the target at 54.88.

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

XAUUSD, “Gold vs US Dollar”

Gold is forming another descending structure with the target at 1315.00. After that, the instrument may grow towards 1339.00 and then fall to reach 1295.00.

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

BRENT

Brent has almost completed the five-wave descending structure. Possibly, today the price may start another correction to return to 69.00. The first target of this correction is at 67.90.

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

 

RoboForex Analytical Department

 



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