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Forex Technical Analysis & Forecast 03.07.2020

EURUSD, “Euro vs US Dollar”

EURUSD is forming another descending wave. Possibly, today the pair may break 1.1222 and then continue falling with the short-term target at 1.1180. After that, the instrument may correct to test 1.1222 from below and then start another decline to reach 1.1144.

Forex Technical Analysis & Forecast 03.07.2020 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”

GBPUSD is forming another descending wave towards 1.2410. Possibly, the pair may correct towards 1.2466 and then resume trading downwards to break 1.2363 and then continue falling inside the downtrend with the target at 1.2317.

Forex Technical Analysis & Forecast 03.07.2020 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 still trading downwards to reach 69.96. After that, the instrument may resume growing towards 70.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 72.00; if to the downside at 0.9490 – resume trading inside the downtrend to reach 68.00.

Forex Technical Analysis & Forecast 03.07.2020 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 107.46 without any particular direction. If later the price breaks this range to the upside at 107.75, the market may start a new growth with the target at 108.20; if to the downside at 107.20 – resume trading downwards to reach 106.60.

Forex Technical Analysis & Forecast 03.07.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming another ascending wave towards 0.9494. After that, the instrument may correct to reach 0.9455 and then resume trading upwards with the predicted target at 0.9555.

Forex Technical Analysis & Forecast 03.07.2020 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.6902. If later the price breaks this range to the upside at 0.6940, the market may form another ascending structure with the target at 0.6990 or even 0.7000; if to the downside at 0.6900 – resume trading downwards to reach 0.6880 or even 0.6788.

Forex Technical Analysis & Forecast 03.07.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is forming one more ascending wave towards 43.40. Later, the market may fall to reach 42.40 and then start another growth to return to 43.40 or even continue the uptrend with the target at 45.20.

Forex Technical Analysis & Forecast 03.07.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1770.00. Today, the pair may test 1768.20 from above and then resume trading upwards to reach 1793.00 or even 1800.00.

Forex Technical Analysis & Forecast 03.07.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After finishing the descending impulse at 9000.00, BTCUSD is consolidating above this level. Possibly, the pair may fall towards 8700.00 and then start a new correction to reach 9200.00. Later, the market may continue trading downwards with the target at 8000.00.

Forex Technical Analysis & Forecast 03.07.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After completing the ascending wave at 3160.6, the Index is expected to correct towards 3076.0. After that, the instrument may resume trading upwards with the target at 3125.0.

Forex Technical Analysis & Forecast 03.07.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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