Forex Technical Analysis & Forecast 08.08.2022

EURUSD, “Euro vs US Dollar”

Having broken 1.0186 downwards, EURUSD is expected to continue falling towards 1.0122 and may later start another growth to return to 1.0186. After that, the instrument may resume trading downwards with the target at 1.0120, or even extend this structure down to 1.0080.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues forming the descending wave towards 1.1970. Later, the market may start another growth with the first target at 1.2187.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is growing towards 135.74. After that, the instrument may start a new decline with the target at 129.50.

USDCHF, “US Dollar vs Swiss Franc”

Having completed the ascending wave at 0.9630, USDCHF is consolidating around this level. If later the price breaks this range to the downside, the market may start another correction towards 0.9555; if to the upside – form one more ascending structure with the target at 0.9725.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending wave at 0.6888; right now, it is correcting upwards. After that, the instrument may resume falling with the short-term target at 0.6814.

BRENT

Brent is still consolidating around 96.90. Today, the asset may expand the range down to 93.00. Later, the market may grow towards 98.88 and then resume trading downwards with the target at 92.50.

XAUUSD, “Gold vs US Dollar”

Gold is still correcting down to 1751.30. After that, the instrument may resume trading upwards with the target at 1822.00.

S&P 500

The S&P index is consolidating above 4110.0. Possibly, today the asset may grow towards 4211.0. Later, the market may resume trading downwards to break 4070.0 and then continue falling with the first target at 3923.4.