Forex Technical Analysis & Forecast 05.02.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
EURUSD, “Euro vs US Dollar”
EURUSD is forming a new descending structure. Today, the price may reach 1.2396 and then grow towards 1.2485.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has broken 1.4134 downwards; right now, it is consolidating and forming a continuation pattern. The target of the next structure is at 1.3925. Later, the market may grow towards 1.4114, thus forming another wide consolidation range.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed the first ascending impulse along with the correction. Possibly, today the price may form the second ascending impulse. The short-term target is at 0.9393. After that, the instrument may be corrected towards 0.9340 and then continue moving upwards to reach 0.9425.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is forming the fourth descending structure towards 109.52. Later, the market may start the fifth one to reach 110.60.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has reached the first target of the descending wave. Today, the price may consolidate near the current lows. After breaking this consolidation range, the instrument may start another correction towards 0.8030.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is still consolidating near the lows. If later the price breaks this range to the downside, the market may fall to reach 55.26; if to the upside – start another growth towards 57.20.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
XAUUSD, “Gold vs US Dollar”
Gold has broken its consolidation range downwards and right now is forming another one around 1333.00. Possibly, the price may reach the short-term target at 1315.00. Later, the market may start another growth towards 1333.00.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
BRENT
Brent has broken 69.10 and continues forming the third descending wave. The short-term target is at 67.48. After that, the instrument may start a new growth to reach 69.08 and then resume trading to the downside towards 67.02.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.