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Forex Technical Analysis & Forecast 03.02.2022

EURUSD, “Euro vs US Dollar”

Having completed the ascending wave at 1.1329, EURUSD is consolidating around 1.1300. Possibly, today the pair may correct down to 1.1280 and then start another growth to break 1.1330. Later, the market may continue trading upwards with the short-term target at 1.1403.

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 1.3585, GBPUSD is consolidating below this level. If later the price breaks this range to the downside, the market may correct towards 1.3535 and then resume trading downwards with the short-term target at 1.3609.

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 completed the descending wave at 75.75, USDRUB is consolidating above this level. If later the price breaks this range to the upside, the market may correct towards 76.78. After that, the instrument may break his level and continue the correction with the target at 77.77.

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 downside target at 114.14, USDJPY is expected to consolidate there. If later the price breaks this range to the upside, the market may correct towards 114.87; if to the downside – resume falling with the first target at 114.00.

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 0.9218 and formed a new consolidation range around this level, USDCHF has broken it to the downside. Possibly, today the pair may continue trading downwards with the target at 0.9093.

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 finishing the ascending wave at 0.7157, AUDUSD is correcting down to 0.7083. Later, the market may form one more ascending structure with the target at 0.7213.

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. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 93.20; if to the downside – start a new correction towards 85.07 and then form one more ascending structure to reach the above-mentioned target.

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 around 1805.00. Possibly, the metal may grow to reach 1813.30 and then start another correction to return to 1805.00. Later, the market may resume trading upwards with the target at 1834.88.

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 completed the descending structure at 4545.0; right now, it is consolidating around this level. Possibly, the asset may break the range to the downside and resume trading downwards with the target at 4429.7.

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


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