Forex Technical Analysis & Forecast 12.07.2022

EURUSD, “Euro vs US Dollar”

EURUSD is still falling with the target at 0.9975. Possibly, today the pair may reach 0.9994 and then start a new correction up to 1.0094. Later, the market may resume trading downwards to reach the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling towards 1.1800. After that, the instrument may correct up to 1.1922, and then resume trading within the downtrend, with the target at 1.1790.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a new consolidation range around 137.30. Later, the market may start another decline towards 136.62 and then resume trading upwards with the target at 137.87.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues growing towards 0.9872. After that, the market may start a new correction down to 0.9800 and then resume growing with the target at 0.9911.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the descending wave at 0.6717; right now, it is consolidating above the latter level. If later the price breaks this range to the downside, the market may resume falling with the target at 0.6660; if to the upside, start another correction up to 0.6766, and then resume trading within the downtrend towards the above-mentioned target.

BRENT

Brent is consolidating around 107.50. Today, the asset may fall towards 105.05 and then grow to reach 110.00. If later the price breaks the range to the upside, the market may resume trading upwards with the target at 114.40, or even extend this structure up to 122.20.

XAUUSD, “Gold vs US Dollar”

Gold continues falling towards 1722.37. After that, the instrument may correct up to 1767.50, and then resume trading downwards to reach 1700.00.

S&P 500

The S&P index is forming a new descending structure towards 3813.6. Later, the asset may resume growing to break 3948.4 and then continue trading upwards with the short-term target at 4040.0.