Forex Technical Analysis & Forecast 03.07.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed one more descending impulse along with the correction and formed another consolidation range. Later, the market may break 1.1600 to the downside and continue trading downwards with the short-term target at 1.1510.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards. Possibly, today the pair may fall to reach 1.3025 and then grow towards 1.3270.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is moving upwards. Today, the price may grow to break 0.9986 and then continue trading to the upside to reach the short-term target at 1.0080. 

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming the first descending impulse with the target at 110.35. After that, the instrument may grow to reach 110.75, thus forming a new consolidation range. If later the instrument breaks this range to the downside, the market may continue trading downwards with the first target at 109.45.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving downwards to reach the target at 0.7285. Possibly, today the pair may grow towards 0.7355 and then resume falling to reach the above-mentioned target.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 63.00. Possibly, the pair may fall to break 62.08 and then continue trading downwards with the short-term target at 60.70.

XAUUSD, “Gold vs US Dollar”

Gold has reached the main target of the descending wave. Possibly, the pair may consolidate near the lows. After that, the instrument may form a reversal pattern to start another correction towards 1304.00.

BRENT

Brent is consolidating above 77.70. Possibly, the pair may reach 76.80 and then return to the short-term target at 80.70. Later, the market may be corrected towards 78.40 and then continue trading upwards to reach 82.00.