Forex Technical Analysis & Forecast 06.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After reaching 1.1022 and forming another consolidation range, EURUSD has broken it to the downside. Possibly, the pair may form a new descending structure towards 1.0978 and then start another correction to return to 1.1022.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is moving downwards. Today, the pair may reach 1.2942 and then start a new correction towards 1.3000. Later, the market may resume trading downwards with the target at 1.2885.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is moving upwards. Possibly, today the pair may reach 0.9750 and then start another correction to break 0.9720. Later, the market may resume trading inside the downtrend with the target at 0.9690.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is moving upwards. Possibly, today the pair may grow to reach 110.05. After that, the instrument may form a new descending structure to break 109.50 and then continue the correction with the target at 109.12.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the ascending structure towards 0.6763. Today, the pair may fall to break 0.6737 and then continue trading downwards with the target at 0.6720.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has finished the descending wave at 62.55. Possibly, today the pair may correct to reach 63.25 and then form a new descending structure with the target at 62.20.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is consolidating above 1.3267 without any particular direction. Today, the pair may expand the range up to 1.3309. After that, the instrument may start a new decline with the target at 1.3216.
XAUUSD, “Gold vs US Dollar”
Gold is consolidating below 1558.97. Possibly, the pair may fall to break 1545.10 and then continue trading downwards with the short-term target at 1538.48.
BRENT
Brent is moving upwards. Possibly, the pair may reach 56.98 and then start another correction with the target at 55.45.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is consolidating close to the upside border of the range. If later the price breaks 9600.00 to the upside, the market may resume moving upwards to reach 10044.00 and then start a new decline towards 9000.00.
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.