Forex Technical Analysis & Forecast 07.08.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

07.08.2018

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating in the center of the range around 1.1563. Possibly, today the pair may fall to reach 1.1515 and then form a new ascending structure towards 1.1563. After that, the instrument may resume trading to the downside with the target at 1.1420.

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 broken its consolidation range downwards and may continue falling to reach 1.2888. Today, the price may form a new ascending structure towards 1.2975 and then resume trading to the downside with the target at 1.2888. Later, the market may start another growth to reach 1.3022.

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 broken its consolidation range upwards and may continue growing to reach 1.0000.  After that, the instrument may be corrected towards 0.9940 and then continue moving to the upside with the target at 1.0100.

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 is growing towards 111.59 and then may fall to reach 111.34. If later the instrument breaks this range to the upside, the price may grow to reach 112.29; if to the downside – continue falling inside the downtrend with the target at 110.30.

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 is forming another descending wave towards 0.7342. Later, the market may grow to reach 0.7375 and then resume trading to the downside towards 0.7300. According to the main scenario, the instrument is expected to continue falling inside the downtrend with the target at 0.7285.

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 falling to reach 62.90. After that, the instrument may grow towards 63.39, thus forming another consolidation range. If later the instrument breaks this range to the upside, the price may grow to reach 64.20; if to the downside – resume trading to the downside with the target at 60.90

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

 

XAUUSD, “Gold vs US Dollar”

Gold is trading below 1218.00. According to the main scenario, the instrument is expected to continue trading to the downside to reach 1200.00. Later, the market may start another correction with the target at 1233.00.

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

 

BRENT

Brent has broken 73.20 and may continue growing towards 74.78. After that, the instrument may form another descending structure to return to 73.20, break it, and then continue falling inside the downtrend with the target at 70.90.

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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