Forex Technical Analysis & Forecast 11.02.2021

11.02.2021

EURUSD, “Euro vs US Dollar”

EURUSD continues consolidating. Possibly, today the pair may break the range to reach 1.2088 and then start another growth towards 1.2155. Later, the market may form a new descending structure to break 1.2055 and then continue trading downwards with the target at 1.1944.

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 consolidating around 1.3820. Possibly, the pair may break the range to reach 1.3760 and then start another growth towards 1.3810, thus forming a reversal pattern there. After that, the instrument may break 1.3760 to the downside and then continue trading downwards with the target at 1.3500.

GBPUSD
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 completed the descending wave at 73.63. Today, the pair may consolidate not far from this level. If later the price breaks this range to the downside, the market may resume falling with the short-term target at 71.50; if to the upside – start a new correction to reach 75.00.

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 completed the descending wave at 104.40; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may start a new decline towards 103.30; if to the upside – form one more ascending structure with the target at 105.00.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached its downside target at 0.8903. Today, the pair may consolidate around this level. After that, the instrument may break the range to the upside and then form one more ascending structure with the target at 0.8970.

USDCHF
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 finished the ascending wave at 0.7755; right now, it is consolidating below this level. Possibly, the pair may break the range to the downside and then resume trading downwards with the target at 0.7655.

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

BRENT

Brent is still consolidating around 61.00. Today, the asset may grow to reach 61.77 and then start a new correction towards 60.00. Later, the market may form one more ascending structure with the target at 62.50.

BRENT
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 1840.00. Today, the metal may break the range to the downside and start a new correction towards 1823.50. Later, the market may form one more ascending structure to reach 1860.70 and then resume falling with the target at 1823.00.

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

S&P 500

After completing the correctional structure at 3883.0, the S&P index is consolidating above it. If later the price breaks this range to the downside, the market may start a new correction towards 3822.0; if to the upside – form one more ascending structure with the target at 3950.2.

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.