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Forex Technical Analysis & Forecast 03.08.2022

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.0190 and then forming a new consolidation range around this level, EURUSD has broken it to the downside. Later, the market may resume trading downwards with the target at 1.0100, or even extend this structure down to 1.0080.

Forex Technical Analysis & Forecast 03.08.2022 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”

GBPUSD continues falling towards 1.2125. After that, the instrument may start another growth to reach 1.2210 and then form a new descending structure with the target at 1.2075.

Forex Technical Analysis & Forecast 03.08.2022 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

Having finished the ascending wave at 133.50 along with the correction down to 132.26, USDJPY is expected to grow with the target at 134.18, or even extend this structure up to 134.95.

Forex Technical Analysis & Forecast 03.08.2022 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 completed the ascending wave at 0.9580, USDCHF is expected to correct down to 0.9530. After that, the instrument may grow towards 0.9600 and then form a new consolidation range below this level. If later the price breaks the range to the downside, the market may start another correction to reach 0.9520; if to the upside – form one more ascending structure with the target at 0.9700.

Forex Technical Analysis & Forecast 03.08.2022 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 0.6930, AUDUSD is consolidating around this level. If later the price breaks the range to the downside, the market may start a new decline to reach 0.6820; if to the upside – resume growing with the target at 0.7000.

Forex Technical Analysis & Forecast 03.08.2022 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is growing towards 106.20. After that, the instrument may start a new correction down to 103.50 and then form one more ascending structure with the target at 111.80.

Forex Technical Analysis & Forecast 03.08.2022 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold continues growing towards 1789.81 and may later fall to reach 1751.30. After that, the instrument may resume trading upwards with the target at 1820.00, or even extend this structure up to 1852.55.

Forex Technical Analysis & Forecast 03.08.2022 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 below 4140.9 Possibly, the asset may break the range to the downside and start a new correction with the target at 3923.3. On the other hand, the instrument may break the range to the upside and form one more ascending structure towards 4210.9 and then resume falling to reach the above-mentioned target.

Forex Technical Analysis & Forecast 03.08.2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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