Forex Technical Analysis & Forecast 07.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating in the center of the range around 1.1563. Possibly, today the pair may fall to reach 1.1515 and then form a new ascending structure towards 1.1563. After that, the instrument may resume trading to the downside with the target at 1.1420.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken its consolidation range downwards and may continue falling to reach 1.2888. Today, the price may form a new ascending structure towards 1.2975 and then resume trading to the downside with the target at 1.2888. Later, the market may start another growth to reach 1.3022.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken its consolidation range upwards and may continue growing to reach 1.0000.  After that, the instrument may be corrected towards 0.9940 and then continue moving to the upside with the target at 1.0100.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is growing towards 111.59 and then may fall to reach 111.34. If later the instrument breaks this range to the upside, the price may grow to reach 112.29; if to the downside – continue falling inside the downtrend with the target at 110.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming another descending wave towards 0.7342. Later, the market may grow to reach 0.7375 and then resume trading to the downside towards 0.7300. According to the main scenario, the instrument is expected to continue falling inside the downtrend with the target at 0.7285.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is falling to reach 62.90. After that, the instrument may grow towards 63.39, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may grow to reach 64.20; if to the downside – resume trading to the downside with the target at 60.90

XAUUSD, “Gold vs US Dollar”

Gold is trading below 1218.00. According to the main scenario, the instrument is expected to continue trading to the downside to reach 1200.00. Later, the market may start another correction with the target at 1233.00.

BRENT

Brent has broken 73.20 and may continue growing towards 74.78. After that, the instrument may form another descending structure to return to 73.20, break it, and then continue falling inside the downtrend with the target at 70.90.