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Forex Technical Analysis & Forecast 08.02.2021

EURUSD, “Euro vs US Dollar”

After finishing the correction at 1.2050 and testing this level from below, EURUSD is expected to form another consolidation range there. Later, the market may break the range to the downside and then resume falling with the target at 1.1944.

Forex Technical Analysis & Forecast 08.02.2021 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 1.3739, GBPUSD is expected to resume trading downwards and reach 1.3671. After that, the instrument may form one more ascending structure with the target at 1.3830.

Forex Technical Analysis & Forecast 08.02.2021 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 is still falling towards 74.24 and may later start another growth to test 75.00 from below. After that, the instrument may resume trading downwards with the target at 73.63.

Forex Technical Analysis & Forecast 08.02.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 105.55. Possibly, today the pair may break this range to the downside and start a new decline to reach 104.52. Later, the market may resume growing with the target at 105.91.

Forex Technical Analysis & Forecast 08.02.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the short-term upside target at 0.9040; right now, it is correcting towards 0.8968. Later, the market may form one more ascending structure with the target at 0.9062.

Forex Technical Analysis & Forecast 08.02.2021 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 0.7651, AUDUSD has reached 0.7680. Today, the pair may fall to test 0.7650 from above and then start another growth with the target at 0.7720.

Forex Technical Analysis & Forecast 08.02.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still growing towards 60.00. After that, the instrument may correct to reach 58.25 and then form one more ascending structure with the target at 61.77.

Forex Technical Analysis & Forecast 08.02.2021 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 1818.60. Today, the metal may start consolidating around this level. Later, the market may break the range to the downside and resume trading upwards with the target at 1761.50.

Forex Technical Analysis & Forecast 08.02.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has completed the ascending wave at 40400.00; right now, it is consolidating around 38800.00. Later, the market may break the range to the downside and resume trading upwards to break 36200.00. After that, the instrument may continue falling with the target at 31700.00.

Forex Technical Analysis & Forecast 08.02.2021 BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is still growing towards 3917.0 and may later start a new correction to reach 3812.0. After that, the instrument may form one more ascending wave with the target at 3940.5.

Forex Technical Analysis & Forecast 08.02.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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