Forex Technical Analysis & Forecast 02.08.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

August 2, 2019

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has returned to 1.1080; right now, it is consolidating around this level. Possibly, the pair may form a new descending impulse to reach 1.1066 and then start a new growth with the target at 1.1081 or even 1.1100. Later, the market may continue trading downwards with the target at 1.1000.

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”


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GBPUSD is still consolidating around 1.2110. Today, the pair may form a new descending structure towards 1.2070 and then start another growth to return to 1.2110. After that, the instrument may continue trading inside the downtrend with the short-term target at 1.2044.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming the first ascending impulse with the target at 0.9900.After that, the instrument may start another decline towards 0.9888 and then form one more ascending structure with the first target at 0.9934.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming another descending wave with the target at 106.11; it has formed a downside continuation pattern at 107.38. Today, the pair may test 107.20 from below and then fall to reach the above-mentioned target. Later, the market may start a new correction to reach 108.00.

USDJPY
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 0.6830, AUDUSD has expanded its consolidation to the downside. Possibly, today the pair may return to 0.6830 to test it from below and then continue trading downwards with the target at 0.6755.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the first correctional target at 64.00. Today, the pair may form a new descending structure with the first target at 63.22.

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

XAUUSD, “Gold vs US Dollar”

After completing another ascending structure at 1440.14 and forming another consolidation range around this level, Gold has broken it to the downside; right now, it is forming the second descending impulse with the target at 1427.05. After that, the instrument may start a new growth towards 1434600 and then form one more ascending structure to with the first target at 1423.23.

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

BRENT

After finishing the descending wave at 60.21, Brent has formed a new rising impulse towards 62.40; right now, it is being corrected with the target at 61.25. Later, the market may start another growth with the short-term target at 63.63.

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

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.