Forex Technical Analysis & Forecast 08.02.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

08.02.2019

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending impulse along with the correction. Possibly, today the pair may form a new descending structure towards 1.1330 and then resume growing to break 1.1363. Later, the market may form one more ascending structure with the short-term target at 1.1395.

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 finished the ascending impulse; right now, it is being corrected. Possibly, the pair may fall to reach 1.2926 and then form one more ascending structure with the target at 1.3010.

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 completed the first descending impulse along with the correction. Today, the pair may start a new decline to break 1.0000 and start a new correction with the target at 0.9970. After that, the instrument may continue trading upwards to reach 1.0003.

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 forming the Flag correctional pattern. Possibly, today the pair may continue forming the fifth structure of the pattern with the target at 109.50. Later, the market may start a new growth towards 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 trading downwards; it has already reached 0.7070. Today, the pair may form a new descending structure towards 0.7045 and then start a new correction with the target at 0.7137.

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 has reached the short-term upside target. Possibly, today the pair may resume falling towards 65.78 and then form one more ascending structure to reach 66.37. Later, the market may start a new decline to break 64.90 and then continue trading inside the downtrend with the short-term target at 62.90.

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 moving downwards. Today, the pair may reach 1301.17. After that, the instrument may resume growing towards 1309.00 and then form a new descending structure with the target at 1297.50.

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

BRENT

Brent is trading downwards as well; in fact, it is forming the Flag correctional pattern. Possibly, today the pair may form the fifth structure of the pattern with the target at 60.42. Later, the market may continue trading upwards towards the key target at 63.95.

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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