Forex Technical Analysis & Forecast 08.06.2021

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.2178; after expanding the range up to 1.2202 and rebounding from this level, it is falling to reach the downside border at 1.2144. Possibly, the pair may break the latter level as well and continue correcting downwards with the target at 1.2090.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating 1.4155; right now, it is falling towards 1.4104. Possibly, today the pair may break the latter level and continue falling towards 1.4014. Later, the market may start a new growth to return to 1.4104.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 72.35. After that, the instrument may start another correction to reach 73.05 and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is consolidating around 109.44; right now, it is growing towards 109.85. Today, the pair may break the latter level and form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.8991. Possibly, today the pair may resume growing towards the upside border of the range at 0.9010. Later, the market may break this level and then continue trading upwards with the target at 0.9107.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is consolidating around 0.7747. Today, the pair may form a new descending structure towards the downside border of the range at 0.7701. After that, the instrument may break this level and continue trading downwards with the target at 0.7641.

BRENT

Brent is correcting towards 70.02 and may later form one more ascending wave to reach 72.02. After that, the instrument may break the latter level and then continue trading upwards with the target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the correctional wave at 1901.70. Today, the metal may form a new descending structure to break 1881.30 and then continue trading downwards to reach 1848.26. Later, the market may start another growth with the target at 1881.00.

S&P 500

The S&P index is consolidating around 4222.0. Possibly, today the asset may break this range to the upside and resume growing towards 4272.1. After that, the instrument may correct downwards to reach 4170.0 and then form one more ascending structure with the target at 4300.0.