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Forex Technical Analysis & Forecast 04.08.2020

EURUSD, “Euro vs US Dollar”

After finishing the descending impulse at 1.1700, EURUSD is correcting towards 1.1800. After that, the instrument may form a new descending structure to break 1.1700 and then continue trading downwards with the short-term target at 1.1588.

Forex Technical Analysis & Forecast 04.08.2020 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 reaching 1.3000, GBPUSD has finished the correction towards 1.3084. Today, the pair may fall to return to 1.3000 and break it to the downside. Later, the market may continue moving downwards with the short-term target at 1.2875.

Forex Technical Analysis & Forecast 04.08.2020 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 the ascending wave at 74.44, USDRUB is expected to form a new descending structure towards 72.60. After that, the instrument may start another growth to reach 73.64 and then resume falling to break 73.13. Later, the market may continue trading downwards with the target at 71.15.

Forex Technical Analysis & Forecast 04.08.2020 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 still consolidating around 105.80. Possibly, the pair may fall to reach 105.00 and then resume trading upwards to break 106.40. After that, the instrument may continue growing with the target at 107.40.

Forex Technical Analysis & Forecast 04.08.2020 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 has completed the ascending impulse at 0.9240; right now, it is correcting towards 0.9147. Later, the market may resume trading upwards to break 0.9240 and then continue growing with the target at 0.9333.

Forex Technical Analysis & Forecast 04.08.2020 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 completing the descending structure at 0.7076, AUDUSD is growing to reach 0.7150. After that, the instrument may start a new decline to break 0.7075 and then continue trading downwards with the target at 0.7000.

Forex Technical Analysis & Forecast 04.08.2020 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After breaking 43.70 and then reaching 44.44, Brent is falling to test the former level from above. Later, the market may continue trading upwards to reach 45.55 or even 46.46.

Forex Technical Analysis & Forecast 04.08.2020 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 wave at 1975.50, Gold is consolidating below this level. Possibly, the pair may fall to break 1960.00 and then continue trading downwards with the target at 1933.33. However, if the price grows and breaks 1977.00 to the upside, the instrument may start a new growth to reach 1990.50 or even 2012.20.

Forex Technical Analysis & Forecast 04.08.2020 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After completing the correction at 11400.00, BTCUSD is expected to fall towards 10880.00 and break it. After that, the instrument may continue the correction to reach 10500.00 or even 9533.00.

Forex Technical Analysis & Forecast 04.08.2020 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After breaking 3285.2 and then reaching 3305.5, the S&P index is expected to return to 3285.2 and test it from above. Later, the market may resume moving upwards with the short-term target at 3345.1.

Forex Technical Analysis & Forecast 04.08.2020 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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