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Forex Technical Analysis 04.02.2020 (USDJPY, BRENT, BTCUSD)

EURUSD, “Euro vs US Dollar”

After finishing the correction, EURUSD has broken the correctional channel upwards. Possibly, the pair may form one more ascending structure towards 1.1067 and then start another decline to reach 1.1055, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may resume moving upwards to break 1.1080 and then continue growing towards the short-term target at 1.1104; if to the downside – start a new decline towards 1.1040.

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

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking the channel to the downside, GBPUSD has reached 1.2983. Possibly, today the pair may form one more ascending structure towards 1.3046 (at least) or even 1.3095. Later, the market may start another decline with the target at 1.2900.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the correction towards 0.9671. Today, the pair may resume falling to break 0.9650 and then continue trading inside the downtrend with the target at 0.9631. this descending structure may be considered as a part of the wave towards 0.9580.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still correcting. Possibly, today the pair may grow and finish the correction at 108.90. After that, the instrument may form a new descending structure to break 108.49 and then continue trading downwards with the target at 108.04.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating near the lows. Today, the pair may break this range to the upside to reach 0.6730 and resume trading downwards with the target at 0.6700. After that, the instrument may start a new growth towards 0.6805.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Possibly, today the pair may reach 63.14 and then form one more ascending structure towards 63.60, thus forming a new consolidation range. Later, the market may break it to the downside and resume falling with the target at 62.40.

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

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has broken 1.3232. Possibly, the pair may continue growing towards 1.3301. After that, the instrument may start a new decline to reach 1.3232 and then resume trading upwards with the target at 1.3345.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the descending impulse, Gold is consolidating around 1576.44. If later the price breaks this range to the upside, the market may start another correction to reach 1583.68; if to the downside – form a new descending structure with the short-term target at 1561.88.

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

BRENT

Brent is moving downwards. After updating 55.50, it is expected to continue falling towards 53.60. Later, the market may form one more ascending impulse to return to 55.50 and test it from below. After that, the instrument may start another decline with the target at 53.20.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is consolidating around 9330.00 without any particular direction. The main scenario implies that the pair may break the range to the upside and start a new growth with the short-term target at 10044.00. After that, the instrument may correct towards 8500.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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