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Forex Technical Analysis & Forecast 05.06.2020

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.1192, EURUSD continues moving upwards to reach 1.1360; right now, it is consolidating above 1.1310. Possibly, the pair may break the range to the upside and reach 1.1380 or even extend this wave up to 1.1412. After that, the instrument may resume trading downwards with the target at 1.1287.

Forex Technical Analysis & Forecast 05.06.2020 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 1.2568 to the upside, GBPUSD is expected to trade upwards and reach 1.2650. After that, the instrument may start a new decline to return to 1.2568, thus forming a new consolidation range between these two levels. If later the price breaks the range to the upside, the market may grow to reach 1.2780; if to the downside – resume trading downwards.

Forex Technical Analysis & Forecast 05.06.2020 GBPUSD
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 finishing the correction at 69.60. Later, the market may resume trading inside the downtrend with the target at 67.80.

Forex Technical Analysis & Forecast 05.06.2020 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After completing the correction at 108.70, USDJPY is growing to break 109.14 to the upside. Possibly, the pair may reach 109.70 and then start another decline towards 108.12.

Forex Technical Analysis & Forecast 05.06.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After finishing the descending wave at 0.9550, USDCHF is consolidating near the lows. If later the price breaks the range to the upside at 0.9565, the market may grow to reach 0.9590; if to the downside at 0.9545 – resume trading downwards with the target at 0.9525.

Forex Technical Analysis & Forecast 05.06.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6934 to the upside, AUDUSD is expected to continue growing towards 0.7014. Later, the market may fall to break 0.6934 and then form a new descending structure with the target at 0.6868.

Forex Technical Analysis & Forecast 05.06.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 40.00, Brent is expected to continue growing towards 41.00. After that, the instrument may correct to reach 38.70 and then resume trading upwards with the target at 45.50.

Forex Technical Analysis & Forecast 05.06.2020 BRENT
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 ascending wave at 1720.40, Gold is moving downwards to reach 1704.60. Later, the market may break it and then continue trading downwards with the target at 1690.30.

Forex Technical Analysis & Forecast 05.06.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has finished the ascending structure at 9700.00. Today, the pair may continue trading upwards towards 10000.00 and then start another decline with the first target at 9000.00.

Forex Technical Analysis & Forecast 05.06.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The Index has completed the correctional wave at 3094.0; right now, it is moving upwards. Possibly, today the asset may break 3133.3 and reach the next target at 3167.2. After that, the instrument may start consolidating close to the highs.

Forex Technical Analysis & Forecast 05.06.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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