Forex Technical Analysis & Forecast 07.02.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still forming the third descending wave towards 1.0642. Possibly, today the price may form the first structure of this wave with the target at 1.0684. After that, the instrument may grow to reach 1.0720 and then fall to reach the local target at 1.0642.

GBP USD, “Great Britain Pound vs US Dollar”

Being under pressure, the GBP/USD pair is moving downwards as well. Possibly, the price may reach 1.2400. Later, in our opinion, the market may form another ascending structure towards 1.2542.

USD CHF, “US Dollar vs Swiss Franc”

Being under pressure, the USD/CHF pair is growing. Possibly, the price may form another wave to break 0.9963. The local target is at 1.0024.

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair fell to reach 111.80. Possibly, today the price may grow towards 112.60. After that, the instrument may move downwards with the target at 112.05.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming another consolidation range in the form of the Triangle pattern. Possibly, today the price may move upwards to reach 0.7683 and then fall to break 0.7600. the first downside target is at 0.7550.

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is trading to rebound from 58.55 to the upside. Possibly, today the price may be corrected towards 59.42. Later, in our opinion, the market may fall with the target at 58.27.

XAU USD, “Gold vs US Dollar”

Gold continues extending its ascending wave. Possibly, the price may grow towards 1243. After that, the instrument may continue falling inside the downtrend. The first target is at 1211.

BRENT

Brent is being corrected towards 55.50. Later, in our opinion, the market may continue growing with the target at 58.45.

RoboForex Analytical Department