Forex Technical Analysis & Forecast 05.02.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

After reaching its downside target, EURUSD has completed the first ascending impulse along with the correction. Possibly, today the pair may break 1.1440. The first target is at 1.1455. Later, the market may resume falling to return to 1.1440 and then form one more ascending structure towards 1.1488.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the downside target; right now, it is moving upwards with the target at 1.3075. After that, the instrument may resume falling towards 1.3050 and then start a new growth with the first upside target at 1.3158.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the short-term upside target. Today, the pair may form a new descending structure to break 0.9969 and then continue trading downwards with the target at 0.9945. Later, the market may form one more ascending structure towards 0.9996.

USDJPY, “US Dollar vs Japanese Yen”

After reaching the short-term upside target, USDJPY has finished the descending impulse along with the correction. After that, the instrument may fall to break 109.82 and then continue trading downwards to reach 109.50. Later, the market may start a new growth with the target at 110.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached its downside target; right now, it is trading up with the target at 0.7350 to complete this wave. After that, the instrument may form a new descending structure with the first target at 0.7030.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading upwards to reach 66.37. Later, the market may start a new decline with the short-term target at 62.90.

XAUUSD, “Gold vs US Dollar”

Gold has reached its downside target; right now, it is trading upwards to reach 1.334.40. After that, the instrument may resume falling to reach 1321.35 and then start a new growth towards 1343.43.

BRENT

Brent has completed the correction at 61.72; right now, it is trading to break 62.62. The upside target is at 63.95. Later, the market may start a new correction downwards to reach 59.40.