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Forex Technical Analysis & Forecast 02.02.2022

EURUSD, “Euro vs US Dollar”

EURUSD is still growing with the short-term target at 1.1300. Later, the market may start a new correction to reach 1.1220 and then form one more ascending structure with the target at 1.1320.

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 finishing the ascending wave at 1.3500, GBPUSD is still moving upwards to reach 1.3550. Later, the market may resume trading downwards with the target at 1.3355.

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

USDRUB, “US Dollar vs Russian Ruble”

Having reached the short-term downside target at 76.60, USDRUB is expected to consolidate there. If later the price breaks this range to the upside, the market may correct towards 78.00; if to the downside – resume trading downwards with the first target at 76.00.

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 reaching the short-term downside target at 114.60, USDJPY is expected to consolidate there. If later the price breaks this range to the upside, the market may correct towards 115.10; if to the downside – resume falling with the first target at 114.44.

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

USDCHF, “US Dollar vs Swiss Franc”

Having completed the descending wave at 0.9202, USDCHF is expected to consolidate there. If later the price breaks this range to the upside, the market may start a new correction towards 92.40 or even extend this structure up to 0.9280; if to the downside – resume trading downwards with the target at 0.9140.

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 forming a new consolidation range around 0.7080 and breaking it to the upside, AUDUSD has finished the ascending structure at 0.7134. Possibly, today the pair may fall to break 0.7080 and then continue trading downwards with the target at 0.7023.

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

BRENT

Brent is still consolidating above 89.66; it has already expanded it both downwards and upwards at 88.67 and 90.40 respectively. Possibly, the asset may grow to reach 91.40. After that, the instrument may break this level and continue trading within the uptrend with the short-term target at 93.00.

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 consolidating above 1797.50. Possibly, the metal may break this level to the downside and start a new correction towards 1786.76. After that, the instrument may grow to break 1812.00 or and then continue trading upwards with the target at 1850.50.

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 continues growing towards 4583.6 and may later form a new descending correction to reach 4429.7. After that, the instrument may resume trading upwards with the target at 4637.5.

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


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