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Forex Technical Analysis & Forecast 02.03.2022

EURUSD, “Euro vs US Dollar”

EURUSD continues forming the descending wave towards 1.1075. Later, the market may correct to reach 1.1160 and then resume trading downwards with the target at 1.1050.

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 is still falling towards 1.3282. After that, the instrument may start a new correction to reach 1.3362 and then resume trading downwards with the target at 1.3145.

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 situation hasn’t changed much; markets are closed. After opening, USDRUB is expected to return to 92.00 – it’s the downside border of the range around 102.00. If later the price breaks this level to the downside, the asset may resume falling with the target at 75.00.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the correctional wave at 114.70; right now, it is growing towards 115.27. After that, the instrument may resume trading downwards to reach 114.99 and then form one more ascending structure with the target at 115.81.

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 0.9150 along with the ascending impulse towards 0.9190, USDCHF is consolidating around 0.9186. Today, the pair may break the range to the upside and reach 0.9222.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7240. Possibly, the pair may resume falling towards 0.7190 and then start a new growth to return to 0.7240. After that, the instrument may continue trading downwards with the target at 0.7070.

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

BRENT

After reaching 108.15 and forming a new consolidation range around this level, Brent has broken it to the upside. Possibly, today the asset may continue growing towards 117.04 and then correct down to 108.15. Later, the market may form one more ascending structure with the target at 121.00.

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 around 1906.00; it has already expanded the range up to 1948.38. Today, the metal may correct towards 1906.10 and then form one more ascending structure with the short-term target at 1995.15.

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 is still consolidating around 4311.0. Today, the asset may start a new decline with the first target at 4070.0.

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


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