Forex Technical Analysis & Forecast 02.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has formed the consolidation range around 1.1688, broken it downwards, and may continue falling to reach 1.1630. Later, the market may break this level as well and reach 1.1614. After that, the instrument may start a new growth to return to 1.1688.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards. Today, the price may fall to break 1.3076 and then continue trading to the downside to reach the short-term target at 1.2982.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has competed the correctional structure and right now is forming another ascending impulse. Possibly, today the pair may break 0.9930 and reach the target at 0.9955. After that, the instrument may start another decline to return to 0.9930 and then form a new ascending structure with the target at 0.9988. 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards. Today, the price may fall to reach 111.25 and then form a new ascending structure towards 112.30. Later, the market may continue falling with the short-term target at 110.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving downwards. Possibly, the pair may break 0.7377 to the downside. The short-term target is at 0.7315. After that, the instrument may grow to return to 0.7377 and then form another descending structure towards 0.7288.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is growing to reach 63.06. Later, the market may resume falling to break 61.61 and then continue trading to the downside with the short-term target at 59.60.

XAUUSD, “Gold vs US Dollar”

Gold is trading downwards. Possibly, today the pair may fall to reach 1211.00. Later, the market may grow to return to 1220.00 and then resume trading to the downside with the target at 1205.00.

BRENT

Brent is moving downwards and may reach 71.40. After that, the instrument may form another ascending structure towards 73.30 and then start a new decline with the target at 70.95 to complete the correction. Later, the market may resume growing with the first target at 76.00.