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Forex Technical Analysis & Forecast 09.07.2021

EURUSD, “Euro vs US Dollar”

After returning to 1.1825 and forming a new consolidation range around this level, EURUSD has completed the ascending structure at 1.1860. Possibly, the pair may correct to reach 1.1870 and then start another decline with the target at 1.1722.

Forex Technical Analysis & Forecast 09.07.2021 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”

GBPUSD continues falling towards 1.3721. Later, the market may grow to return to 1.3796 and then form a new descending structure with the target at 1.3673.

Forex Technical Analysis & Forecast 09.07.2021 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 reached the upside target at 75.00. Today, the pair may start a new decline with the first target at 73.23.

Forex Technical Analysis & Forecast 09.07.2021 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 has finished another descending wave at 109.55. Possibly, today the pair may grow towards 110.16 and then fall to reach 109.85, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may start another correction to reach 110.77; if to the downside – resume trading downwards with the target at 107.00.

Forex Technical Analysis & Forecast 09.07.2021 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 is still correcting towards 0.9131. After that, the instrument may form one more ascending structure with the target at 0.9340.

Forex Technical Analysis & Forecast 09.07.2021 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 reaching the predicted downside target at 0.7411, AUDUSD is expected to consolidate around this level, If later the price breaks this range to the upside, the market may start a new correction to reach 0.7600; if to the downside – resume trading downwards with the first target at 0.7303.

Forex Technical Analysis & Forecast 09.07.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After completing another descending wave at 71.74 and then forming a new consolidation range above this level, Brent is expected to grow towards 75.55. After that, the instrument may start a new decline to reach 73.60 and then form one more ascending structure with the target at 79.20.

Forex Technical Analysis & Forecast 09.07.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating above 1795.80. Today, the metal may resume trading downwards with the target at 1688.29. Later, the market may form one more ascending structure towards 1800.00.

Forex Technical Analysis & Forecast 09.07.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index has finished the descending impulse at 4288.9 along with the correction towards 4333.1. Possibly, today the asset may start a new decline with the first target at 4240.0.

Forex Technical Analysis & Forecast 09.07.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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