Forex Technical Analysis & Forecast 06.06.2022
EURUSD, “Euro vs US Dollar”
EURUSD is forming a new descending wave towards 1.0674 and may later correct up to 1.0720. After that, the instrument may resume falling to break 1.0627 and then continue moving within the downtrend with the target at 1.0585.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is forming a new descending structure towards 1.2414 and may later consolidate around this level. If the price breaks this range to the downside, the market may resume trading downwards with the short-term target at 1.2220.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is forming a new consolidation range around 130.50. If later the price breaks this range to the upside, the market may extend this ascending structure up to 131.80; if to the downside – resume trading downwards with the target at 126.40.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a new consolidation range around 0.9625. Possibly, today the pair may resume growing towards 0.9690 and then start another correction with the target at 0.9620.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has completed the descending wave at 0.7200. Today, the pair may consolidate there. If the price breaks this range to the downside, the market may form a new descending structure with the target at 0.7120.
BRENT
After rebounding from 121.33, Brent is growing with the short-term target at 125.00 and may later correct to return to 121.33. After that, the instrument may form one more ascending wave with the target at 128.75.
XAUUSD, “Gold vs US Dollar”
Having completed the correction at 1847.50, Gold is growing towards 1863.33. Later, the market may break the latter level and continue trading upwards with the target at 1879.70.
S&P 500
The S&P index is still consolidating around 4143.3. If later the price breaks this range to the upside, the market may form one more ascending structure towards 4220.0. After that, the instrument may start a new decline to break 4009.0 and then continue trading downwards with the target at 3814.0.
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.