Forex Technical Analysis & Forecast 07.01.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT

07.01.2019

EURUSD, “Euro vs US Dollar”

EURUSD has formed another consolidation range above 1.1405; right now, it is trading to break this level upwards. Possibly, the pair may grow with the target at 1.1437. After that, the instrument may form a new consolidation range at the top with a reversal pattern. The first downside target will be at 1.1373.

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 has reached its upside target and formed another consolidation range at the top; right now, it is trading upwards and trying to expand the range towards 1.2777. According to the main scenario, the pair may form a reversal pattern at the highs. After breaking 1.2700 to the downside, the market may form a new descending structure with the target at 1.2550.

GBPUSD
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 formed another consolidation range above 0.9851; right now, it is trading to break the range downwards. Possibly, today the pair may fall towards 0.9833 and then form one more ascending structure to reach 0.9890. Later, the market may resume falling towards 0.9820 and then start a new growth with the first target at 0.9940.

USDCHF
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 reached its upside target. Today, the pair may fall towards 107.53 and then grow to reach 108.15. After that, the instrument may resume trading inside the downtrend with the target at 106.50.

USDJPY
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 completed the ascending wave. Possibly, today the pair may form a new descending structure with the target at 0.6970.

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

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is trading downwards to reach 67.20. Later, the market may form one more ascending structure towards 68.42 and then resume trading inside the downtrend with the target at 65.60.

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

XAUUSD, “Gold vs US Dollar”

Gold has finished the descending impulse; right now, it is being corrected towards 1292.31. After that, the instrument may resume falling to break 1277.05 and then continue the third descending wave with the target at 1261.61.

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

BRENT

Brent is consolidating around 57.29. If later the instrument breaks this range to the upside, the pair may start a new growth towards 60.48; if to the downside – continue the correction to reach 55.00 and then form one more ascending structure with the short-term target at 60.88.

BRENT
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.

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