Forex Technical Analysis & Forecast 02.07.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

After completing another descending structure at 1.1325 and forming the consolidation range, EURUSD has broken it upwards and finished the correctional structure. Possibly, today the pair may continue trading downwards to reach 1.1272. Later, the market may start a new correction to test 1.1324 from below and then resume trading inside the downtrend 1.1248.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still trading downwards with the target at 1.2609. After that, the instrument may start another correction towards 1.2660 and then form a new descending structure with the target at 1.2550.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the upside target at 0.9880. Today, the pair may be corrected towards 0.9825 and then continue trading upwards with the target at 0.9860.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating at the top. If later the price breaks the range to the downside, the instrument may start a new correction towards 107.55; if to the upside – resume trading upwards with the target at 108.85.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the first descending impulse at 0.6955; right now, it is being corrected with the target at 0.6998. Later, the market may form the descending wave to reach 0.6960.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the downside border of the consolidation range. Possibly, the pair may form one more ascending structure to break 63.15 and then continue trading upwards with the short-term target at 63.43.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating above 1386.15. Today, the pair may start a new growth to reach 1398.3 and then form a new descending structure with the target at 1375.40. After that, the instrument may start another correction towards 1407.33.

BRENT

Brent is still consolidating around 66.33. If later the price breaks the range to the upside, the instrument may continue trading upwards to reach 69.30; if to the downside – form a new correctional structure with the target at 63.90.