Forex Technical Analysis & Forecast 09.07.2020

09.07.2020

EURUSD, “Euro vs US Dollar”

After breaking 1.1300 to the upside, EURUSD may continue growing towards 1.1380. Later, the market may correct to reach 1.1280 and then resume trading inside the uptrend with the target at 1.1410.

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”

After breaking 1.2525 and finishing another ascending wave at 1.2626, GBPUSD is consolidating around the latter level. Possibly, the pair may expand this range up to 1.2646. However, if the price breaks 1.2600 to the downside, the instrument may continue trading downwards with the first target at 1.2440.

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

USDRUB, “US Dollar vs Russian Ruble”

After completing the descending impulse at 71.05, USDRUB is consolidating above this level. Possibly, the pair may correct towards 71.67 and then form a new descending structure to break 71.00. After that, the instrument may continue trading downwards with the short-term target at 70.10.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 107.40 to the downside; right now, it is still falling towards 106.99. Later, the market may correct to return to 107.40 and then form a new descending structure with the target at 106.60.

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

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9383 to the downside, USDCHF is expected to continue falling towards 0.9333. After that, the instrument may form one more ascending structure to test 0.9383 from below and then resume trading inside the downtrend with the target at 0.9320.

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

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6971 to the upside, AUDUSD may choose an alternative scenario and form another ascending wave to reach 0.7017. Later, the market may start another decline towards 0.6972 and then resume growing with the target at 0.7023.

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

BRENT

Brent is growing towards 43.90 and may later start a new correction to reach 42.50. After that, the instrument may resume moving upwards with the target at 45.02, at least.

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

XAUUSD, “Gold vs US Dollar”

After reaching 1800.00 and forming an upside continuation pattern around this level, Gold has broken it upwards to extend the wave up to 1817.80; right now, it is falling to test 1801.90 from above and may later return to 1810.10, thus forming another consolidation range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1780.00.

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

BTCUSD, “Bitcoin vs US Dollar”

After breaking 9350.00 to the upside and expanding the range up to 9450.00, BTCUSD has returned to 9350.00 to test it from above. Later, the market may form one more ascending structure with the target at 9500.00 or even 9550.00.

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

S&P 500

The Index is still consolidating around 3160.0. Possibly, today the air may expand the range up to 3200.5 and then down to 3120.5. If later the price breaks this range to the upside, the market may form one more ascending structure towards 3240.4; if to the downside – start a new correction with the target at 3050.5.

S&P 500
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.