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Forex Technical Analysis & Forecast 06.01.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.2325 along with the correction towards 1.2283, EURUSD is expected to continue the correction to reach 1.2257 and then grow to break 1.2300. After that, the instrument may continue trading upwards with the short-term target at 1.2350 to complete this ascending wave. Later, the market may start a new correction towards 1.2000.

Forex Technical Analysis & Forecast 06.01.2021 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 completing the ascending wave at 1.3636 along with the correctio towards 1.3589, GBPUSD is expected to return to 1.3636 and break it to the upside. Later, the market may complete this ascending wave by reaching 1.3722 and then form a new descending structure with the target at 1.3400.

Forex Technical Analysis & Forecast 06.01.2021 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 has expanded its consolidation range up to 75.15. Today, the pair may form a new descending structure to break 73.30 and then continue trading downwards with the short-term target at 72.15.

Forex Technical Analysis & Forecast 06.01.2021 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 descending wave at 102.60, USDJPY is expected to start a new correction towards 103.00 and may later resume falling to reach 102.50. After that, the instrument may form one more ascending structure with the target at 106.00.

Forex Technical Analysis & Forecast 06.01.2021 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 0.8776, USDCHF is expected to correct towards 0.8818 and may later resume trading downwards to reach 0.8750. After that, the instrument may start a new growth with the target at 0.8900.

Forex Technical Analysis & Forecast 06.01.2021 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 0.7706 and then reaching 0.7776, AUDUSD is expected to form a new correctional structure towards 0.7707. Later, the market may start another growth to reach 0.7780 and then resume falling with the target at 0.7666.

Forex Technical Analysis & Forecast 06.01.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing the ascending impulse at 53.50, Brent is consolidating above this level. If later the price breaks this range to the downside, the market may correct towards 52.48; if to the upside – expand the range up to 54.40 and then start a new correction with the target at 51.40.

Forex Technical Analysis & Forecast 06.01.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has finished the ascending wave at 1948.70. Possibly, today the metal may consolidate around this level. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 1857.23.

Forex Technical Analysis & Forecast 06.01.2021 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 ascending wave at 33800.00, BTCUSD is consolidating above this level. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 35550.00; if to the downside – resume trading downwards with the target at 30500.00.

Forex Technical Analysis & Forecast 06.01.2021 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After finishing the correctional wave at 3722.9, the S&P index is falling to break 3671.1. Later, the market may continue moving downwards with the short-term target at 3615.4.

Forex Technical Analysis & Forecast 06.01.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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