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Forex Technical Analysis & Forecast 07.02.2022

EURUSD, “Euro vs US Dollar”

Having completed the descending wave along with the correction, EURUSD has formed a new consolidation range near the highs. Possibly, today the pair may break the range to the downside and correct towards 1.1366. Later, the market may resume trading upwards with the target at 1.1427.

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 forming a new consolidation range around 1.3559 and breaking it to the downside, GBPUSD is expected to fall towards 1.3500. Later, the market may start a new growth with the target at 1.3555.

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 continues trading downwards to reach 75.35. After that, the instrument may form one more ascending structure towards 76.46 and then start another decline with the target at 73.87.

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 finishing the ascending wave at 115.40, USDJPY is expected to consolidate around this level. If later the price breaks this range to the downside, the market may start a new decline to break 114.66. After that, the instrument may continue falling with the first target at 114.05.

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 ascending wave at 0.9232 and formed a new consolidation range around this level, USDCHF has broken it to the upside. Possibly, today the pair may grow to reach 0.9294 and then start a new correction to return to 0.9232.

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 breaking 0.7100 to the downside, AUDUSD is expected to continue trading downwards with the target at 0.7032. Later, the market may start another correction to return to 0.7100.

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

BRENT

Having reached 94.21, Brent is consolidating near the highs. Today, the asset may correct towards 89.66 and then resume trading upwards with the target at 100.00.

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

XAUUSD, “Gold vs US Dollar”

After finishing another ascending wave at 1815.12, Gold is expected to break this level to the upside and continue trading upwards with the short-term target at 1836.93.

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 4445.0 along with the ascending wave towards 4540.0, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may grow towards 4633.3; if to the downside – resume falling with the target at 4222.0.

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


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