Forex Technical Analysis & Forecast 07.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

07.02.2020

EURUSD, “Euro vs US Dollar”

After reaching the short-term downside target at 1.0978, EURUSD is expected to form a new descending structure towards 1.0957 and then start another correction to test 1.1020 from below.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still moving downwards. Today, the pair may reach 1.2917 and then start a new correction towards 1.2960. Later, the market may resume trading downwards with the target at 1.2885.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After reaching the predicted upside target, USDCHF is consolidating near the highs. Possibly, today the pair may expand this range up to 0.9766 and then start another decline to reach 0.9739. Later, the market may break this range to the downside and start a new correction with the target at 0.9689.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating above 109.88. Possibly, the pair may expand the range up to 110.05. After that, the instrument may form a new descending structure to break 109.55 and then continue the correction with the target at 109.12.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has broken 0.6724. Today, the pair may continue trading downwards with the short-term target at 0.6697.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the correction at 63.43. Possibly, today the pair may consolidate below this level. If later the price breaks this range to the upside at 63.43, the market may resume growing towards 64.00; if to the downside at 63.20 – form a new descending structure with the target at 62.42.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 1.3315. After that, the instrument may start a new decline with the target at 1.3216.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1559.90. Possibly, the pair may expand the range up to 1572.00 and then continue trading downwards with the short-term target at 1538.50.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has finished the descending wave at 54.10. Possibly, today the pair may correct to reach 55.57 and then start a new decline with the short-term target at 53.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD has broken 9655.00 upwards. Today, the pair may continue growing to reach 10200.00. Later, the market may correct to break 9000.00 and then continue trading downwards with the target at 8500.00.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.