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Forex Technical Analysis & Forecast for June 2021

EURUSD, “Euro vs US Dollar”

As we can see in the daily chart, after forming a new consolidation range around 1.2080, EURUSD is trading to break it to the upside; in fact, it has finished the ascending impulse at 1.2250 along with the correction towards 1.2132. Possibly, the pair may grow to break 1.2250 and then continue trading upwards with the target at 1.2364.

Forex Technical Analysis & Forecast for June 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”

In the daily chart, after completing the ascending wave at 1.4222 along with the correction towards 1.4111, GBPUSD is moving upwards. Possibly, the pair may break 1.4222 and then continue trading upwards to reach 1.4330. Later, the market may form a new descending structure with the first target at 1.4000.

Forex Technical Analysis & Forecast for June 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”

As we can see in the daily chart, after finishing the descending wave at 73.30, USDRUB is forming a new consolidation range around this level. Possibly, the pair may break this range to the upside and correct towards 74.40. After that, the instrument may start a new decline with the key target at 72.00. Later, the market may form one more descending wave towards 75.00.

Forex Technical Analysis & Forecast for June 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”

In the daily chart, after breaking 109.45, USDJPY is still trading upwards to expand the range up to 110.35. After that, the instrument may correct towards 109.50 and then form one more ascending structure to reach 110.50. In fact, the market is forming the fifth ascending wave with the key target at 111.44.

Forex Technical Analysis & Forecast for June 2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

As we can see in the daily chart, Brent continues trading upwards. Possibly, the asset may reach 75.00 and then start a new correction towards 63.00. Later the market may resume trading within the uptrend with the target at 90.00.

Forex Technical Analysis & Forecast for June 2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

In the daily chart, Gold has completed the ascending structure at 1900.00; right now, it is consolidating around this level. Possibly, the metal may break the range to the downside and start a new correction towards 1800.00. However, if the price breaks this range to the upside, the market may form one more ascending wave with the target at 2035.00.

Forex Technical Analysis & Forecast for June 2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

In the daily chart, the S&P index continues trading upwards; it has already broken 4200.0 to form an upside continuation pattern there. Possibly, the asset may start another growth to reach 4343.0 and then correct to test 4200.0 from above. Later, the market may resume trading within the uptrend with the target at 4380.00.

Forex Technical Analysis & Forecast for June 2021 S&P500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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