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Forex Technical Analysis & Forecast 06.08.2021

EURUSD, “Euro vs US Dollar”

The currency pair has performed a link of a declining wave to 1.1827. At the moment, the market is under pressure to decline. Today the wave might extend to 1.1815. Then growth to 1.1872 is expected.

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”

The currency pair is trading in a consolidation area around 1.3920. Today we expect a link of decline to 1.3900, followed by growth to 1.3974. After this level is reached, the pair might drop to 1.3866.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

The currency pair keeps developing a consolidation range at the lows of the declining wave. A link of growth to 73.37 is not excluded. Then we expect the pair to decline to 72.60 and then a pathway to 72.16 will open.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has performed a wave of growth to 109.86. Today, we expect another wave of decline to 108.11 to begin. The goal is first. Then a correction to 110.00 should follow.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

The currency pair keeps developing a structure of growth to 0.9686. After this level is reached, we expect a decline to 0.9050. At these levels, a consolidation range might develop. With an escape upwards, a pathway to 0.9105 might open. With an escape downwards, we expect a decline to 0.9015.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

The Australian dollar keeps trading in a correctional channel, aiming at 0.7440. At the moment, the market formed a growth continuation pattern around 0.7383. This confirms the potential of growth to 0.7440. After this level is reached, a new wave of decline to 0.7272 should begin. And when this level is also broken away downwards, the decline should continue to 0.7200.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Oil is trading in a structure of a wave of growth to 72.55. After this level is reached, another structure of decline might develop to 69.07. Then we expect a wave of growth to 77.33 to begin.

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 performed a decline to 1806.40. At the moment, the market formed a consolidation range around this level. Today the market is bouncing off 1806.40, heading downwards. If 1797.00 is broken away, the decline might continue to 1780.80. The goal is local.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The stock index keeps trading in a narrow consolidation range around 4400.0. Today the level of 4433.0 is likely to be reached. Then we expect a correction to 4333.3, possibly followed by growth to 4500.0. The goal is local.

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


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