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Forex Technical Analysis & Forecast 04.07.2022

EURUSD, “Euro vs US Dollar”

Having completed the descending wave at 1.0365 along with the correction up to 1.0440, EURUSD continues falling towards 1.0354. Later, the market may correct to reach 1.0484 and then resume trading downwards with the target at 1.0300.

Forex Technical Analysis & Forecast 04.07.2022 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”

After finishing the descending wave at 1.1975 along with the correction up to 1.2120, GBPUSD continues falling towards 1.1970 and may later correct up to 1.2130. After that, the instrument may start another decline with the target at 1.1944.

Forex Technical Analysis & Forecast 04.07.2022 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 trading to the downside towards 134.65 and may later start a new correction up to 135.80. After that, the instrument may resume falling to break 134.65 and then continue trading downwards with the target at 133.00.

Forex Technical Analysis & Forecast 04.07.2022 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the ascending wave at 0.9640 along with the correction down to 0.9580. Today, the pair may resume growing to break 0.9640 and then form one more ascending structure with the target at 0.9686.

Forex Technical Analysis & Forecast 04.07.2022 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.6767, AUDUSD is forming a new consolidation range above this level. Later, the market may break this range to the downside and resume trading downwards with the short-term target at 0.6711.

Forex Technical Analysis & Forecast 04.07.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still growing towards 115.82. After that, the instrument may start another correction down to 113.33 and then form one more ascending structure with the short-term target at 118.25.

Forex Technical Analysis & Forecast 04.07.2022 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 1784.40, Gold is expected to correct and test 1817.00 from below. Later, the market may fall with the target at 1758.77 or even extend this structure down to 1735.00.

Forex Technical Analysis & Forecast 04.07.2022 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 falling towards 3700.0 and may later grow towards 3817.5, thus forming a new consolidation range between these two levels. If the price breaks this range to the upside, the market may form one more ascending wave to reach 4014.5; if to the downside – resume trading downwards with the target at 3620.0.

Forex Technical Analysis & Forecast 04.07.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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