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Forex Technical Analysis & Forecast 07.07.2020

EURUSD, “Euro vs US Dollar”

After breaking 1.1300, EURUSD is consolidating above it. If later the price breaks this range to the downside, the market may start a new correction towards 1.1250; if to the upside – resume trading inside the uptrend with the short-term target at 1.1380.

Forex Technical Analysis & Forecast 07.07.2020 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 has broken 1.2490 to the upside; right now, it is still consolidating above it. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 1.2545; if to the downside – start another correction to reach 1.2435.

Forex Technical Analysis & Forecast 07.07.2020 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 falling towards 71.11 and may later grow to reach 71.55, thus forming a new consolidation range between these levels. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 69.69; if to the upside – resume trading inside the uptrend to reach 72.15.

Forex Technical Analysis & Forecast 07.07.2020 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After breaking 107.41, USDJPY is consolidating below this level. Possibly, the pair may fall with the short-term target at 107.07 and then start another growth to return to 107.07 and test it from below. Later, the market may form a new descending structure with the target at 106.60.

Forex Technical Analysis & Forecast 07.07.2020 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After reaching its downside target at 0.9387, USDCHF is correcting towards 0.9425. After that, the instrument may fall to reach 0.9404, thus forming a new consolidation range. If later the price breaks this range to the upside, the market may form one more ascending structure with the target at 0.9470; if to the downside – resume trading inside the downtrend to reach 0.9330.

Forex Technical Analysis & Forecast 07.07.2020 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 has completed the ascending wave at 0.6990; right now, it is moving downwards to break 0.6949. Later, the market may continue falling with the target at 0.6900.

Forex Technical Analysis & Forecast 07.07.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is trading around 43.00. Today, the pair may expand the range up to 43.80 and then fall to reach 42.48. After that, the instrument may start another growth with the target at 45.05.

Forex Technical Analysis & Forecast 07.07.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure at 1786.90, Gold is expected to fall to test 1777.00 from above. After that, the instrument may grow to break 1787.77 and then continue trading upwards with the target at 1799.19 or even 1800.00. Later, the market may form a new descending wave to reach 1750.00.

Forex Technical Analysis & Forecast 07.07.2020 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 ascending impulse at 9126.00 and breaking it to the upside, BTCUSD has reached 9350.00; right now, it is falling towards 9245.00 and may later grow to reach 9300.00, 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 9550.00; if to the downside – resume trading inside the downtrend to reach 8700.00.

Forex Technical Analysis & Forecast 07.07.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After breaking 3166.5 to the upside, the Index is consolidating above it. Possibly, today the asset may reach 3200.5 and then correct towards 3120.0. After that, the instrument may resume trading upwards with the target at 3240.5.

Forex Technical Analysis & Forecast 07.07.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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