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Forex Technical Analysis & Forecast 06.07.2020

EURUSD, “Euro vs US Dollar”

EURUSD is moving upwards. Possibly, the pair may reach 1.1290 and then start a new correction towards 1.1262. After that, the instrument may form one more ascending structure with the target at 1.1305 and then start another correction to return to 1.1262.

Forex Technical Analysis & Forecast 06.07.2020 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 trading upwards to break 1.2485 and may later continue growing towards 1.2512. Later, the market may correct to return to 1.2485 and then start another growth to reach 1.2533. After that, the instrument may resume falling inside the downtrend with the target at 1.2424.

Forex Technical Analysis & Forecast 06.07.2020 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

After completing another ascending structure towards 71.66, which may be considered as the third wave to the upside, USDRUB is expected to correct to reach 70.00, at least. After that, the instrument may resume growing with the target at 72.12.

Forex Technical Analysis & Forecast 06.07.2020 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 107.57. Today, the pair may grow to reach 107.81 and then start a new decline to return to 107.57. If later the price breaks this range to the upside the market may form one more ascending structure with the target at 108.01 or even 108.22.

Forex Technical Analysis & Forecast 06.07.2020 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 moving close to the downside border of the range. Possibly, today the pair may form another ascending wave towards 0.9450. After that, the instrument may fall to break 0.9430 and then continue trading downwards with the target at 0.9387.

Forex Technical Analysis & Forecast 06.07.2020 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 moving upwards; it has already broken 0.6945 to the upside. Possibly, the pair may test this level from above and then form another ascending structure with the target at 0.6988 or even 0.7000.

Forex Technical Analysis & Forecast 06.07.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is trading upwards and may reach 43.80. Later, the market may correct to reach 42.44 and then start another growth towards 45.20 to complete this ascending wave. After that, the instrument may start another correction with the first target at 41.50.

Forex Technical Analysis & Forecast 06.07.2020 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 1777.00. Today, the pair may test 1768.15 from above and then resume trading upwards with the short-term target at 1786.00 or even 1798.00.

Forex Technical Analysis & Forecast 06.07.2020 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 8900.00, BTCUSD is still consolidating and growing towards 9100.00. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 9550.00; if to the downside at 0.9490 – resume trading inside the downtrend to reach 8700.00.

Forex Technical Analysis & Forecast 06.07.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The Index is moving upwards. Possibly, the asset may reach 3200.4 and then correct towards 3119.0. After that, the instrument may resume trading upwards with the short-term target at 3240.3.

Forex Technical Analysis & Forecast 06.07.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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