Forex Technical Analysis & Forecast 02.04.2021

EURUSD, “Euro vs US Dollar”

After breaking the consolidation range to the upside, EURUSD is expected to grow and reach 1.1800. Later, the market may fall to test 1.1759 from above and then resume trading upwards with the first target at 1.1815.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.3805 to the upside, GBPUSD is expected to continue growing and reach 1.3859. After that, the instrument may fall to test 1.3805 from above and then form one more ascending structure with the target at 1.3914.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 76.00. According to the main scenario, the price may expand the range up to 76.50 and then form a new descending structure with the target at 75.10. Later, the market may start another growth to reach 77.50.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating above 110.51. Today, the pair may break the range to the downside and correct with the target at 110.08. After that, the instrument may form one more ascending structure towards 111.44.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9444. Possibly, today the pair may move downwards to reach 0.9375 and then start a new growth with the target at 0.9520.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is correcting to reach 0.7656 and may later extend this structure up to 0.7733. After that, the instrument may resume trading downwards with the target at 0.7454.

BRENT

Brent is still consolidating around 64.00; right now, it is moving upwards to reach 65.52. Later, the market may form a new descending wave with the target at 60.00.

XAUUSD, “Gold vs US Dollar”

Gold is growing towards 1755.70. After that, the instrument may form a new descending structure with the target at 1719.75.

S&P 500

The S&P index has broken 3993.7 to the upside; right now, it is still moving upwards. Possibly, today the asset may reach 4028.1 and then fall to test 4000.0 from above. Later, the market may resume growing with the short-term target at 4040.4.