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Forex Technical Analysis & Forecast 08.06.2022

EURUSD, “Euro vs US Dollar”

EURUSD has completed the correction at 1.0713; right now, it is falling to break 1.0674 and may later continue trading downwards to reach 1.0630. After that, the instrument may resume growing to test 1.0674 from below and then start a new decline with the target at 1.0587.

Forex Technical Analysis & Forecast 08.06.2022 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”

Having finished the descending structure at 1.2431 along with the correction up to 1.2598, GBPUSD is expected to start another decline to break 1.2380 and then continue trading downwards with the short-term target at 1.2200.

Forex Technical Analysis & Forecast 08.06.2022 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues moving within the uptrend with the target at 133.50. After that, the instrument may correct down to 131.35 and then resume trading upwards to reach 136.35.

Forex Technical Analysis & Forecast 08.06.2022 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 finished the ascending structure at 0.9777 along with the correction down to 0.9715, USDCHF continues trading upwards with the short-term target at 0.9873.

Forex Technical Analysis & Forecast 08.06.2022 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 has completed the descending wave at 0.7156 along with the correction up to 0.7230. Today, the pair may form a new descending structure to break 0.7144 and then continue falling with the short-term target at 0.7048.

Forex Technical Analysis & Forecast 08.06.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing the correction at 120.20 along with the ascending impulse towards 122.00, Brent has broken the latter level to the upside; right now, it is consolidating there. Possibly, today the asset may break the range upwards and resume growing with the target at 126.88, or even extend this structure up to 129.50.

Forex Technical Analysis & Forecast 08.06.2022 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Having completed the descending wave at 1839.00 along with the ascending structure towards 1855.15, Gold is forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may resume falling to reach 1800.00; if to the upside – one more ascending structure with the target at 1880.00.

Forex Technical Analysis & Forecast 08.06.2022 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 4115.5 without any specific direction. If later the price breaks this range to the upside, the market may form one more ascending structure towards 4220.0 and the start a new decline with the target at 4000.0; if to the downside – resume falling to reach the above-mentioned target, or even extend this descending structure down to 3814.0.

Forex Technical Analysis & Forecast 08.06.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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