Forex Technical Analysis & Forecast 03.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

03.08.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has broken its consolidation range to the upside and expanded it; also, it has broken the channel of the ascending wave. We think, today the price may reach 1.1848. Possibly, the price may reach 1.1784 and then continue growing with the target at 1.1914.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating at the top of the ascending structure; it has been supported by 1.3220 again. Possibly, the price may grow towards 1.3270 and then start another descending wave with the target at 1.2800. The first target is at 1.3150.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is growing towards 0.9718. After that, the instrument may fall to reach 0.9675 and then start another ascending movement with the target at 0.9800.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming the fifth descending structure. Right now, it is trading to rebound from 110.81. Possibly, the price may grow towards 111.17. However, the main scenario implies that the market may continue falling inside the downtrend with the target at 109.72.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming the third descending wave. The local target is at 0.7895. Later, in our opinion, the market may grow to reach 0.7968 and then start another decline towards 0.7874.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has broken 60.29 and may yet continue the correction towards 61.83. We think, today the price may reach 60.95 and then fall towards 60.29 to eliminate the gap. After that, the instrument may continue growing to reach 61.83. All these ascending movements should be considered only as an alternative scenario. The main scenario implies that the market may continue falling with the target at 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold has formed another consolidation range and right now is trying to break 1262 to the downside. Possibly, today the price may be corrected towards 1253 and then start another growth to reach 1283.

 

BRENT

Brent has almost rebounded from 51.00. Possibly, the price may grow towards 53.00 and break it. After that, the instrument may continue growing to reach the local target at 53.10 and then start another correction towards 51.50.

 

RoboForex Analytical Department

 

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.

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