Forex Technical Analysis & Forecast 02.05.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has finished the descending impulse; right now, it is being corrected towards 1.1211. Later, the market may form the second descending impulse with the target at 1.1162 and then start another growth to reach 1.1185. After that, the instrument may form the third impulse to the downside towards 1.1110.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed another descending impulse; right now, it is being corrected towards 1.3060. After that, the instrument may start the second impulse with the target at 1.2995.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the ascending impulse; right now, it is being corrected to reach 1.0165. Later, the market may start the second impulse to the upside with the target at 1.0205.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the descending wave towards 111.04 along with the correction at 111.65. Possibly, the pair may form a new descending structure to break 111.16 and then may continue falling with the target at 110.70.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading downwards to reach 0.6996. After that, the instrument may form one more ascending structure towards 0.7033 and then resume trading inside the downtrend with the target at 0.6932.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is not trading due to May holidays in Russia. After the market opening, the price is expected to continue trading inside the downtrend with the target at 63.66.

XAUUSD, “Gold vs US Dollar”

Gold has completed another descending impulse; right now, it is consolidating around 1274.28. Possibly, today the pair may continue falling towards 1270.48 and then form one more ascending structure to return to 1274.28. Later, the market may resume trading inside the downtrend with the short-term target at 1261.40.

BRENT

Brent is growing towards 73.73. Today, the pair may reach this level and then start a new decline with the target at 72.40. After that, the instrument may resume trading inside the uptrend with the target at 76.50. However, according to an alternative scenario the price may break 71.60 to the downside, form a new descending structure to reach 70.30, and then continue growing towards the above-mentioned target.