Forex Technical Analysis & Forecast 02.02.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After breaking 1.2093 to the downside, EURUSD is falling towards 1.2040. Possibly, today the pair may reach this level and then form a new consolidation range there. Later, the market may break the range to the upside and start a new growth with the target at 1.2200.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending structure at 1.3750 along with the correction towards 1.3674, GBPUSD is consolidating around the latter level. Today, the pair may break this range to the downside and resume trading downwards with the target at 1.3587.

USDRUB, “US Dollar vs Russian Ruble”

After completing the ascending correction at 76.00, USDRUB is falling towards 75.03. Later, the market may break the latter level and continue trading downwards with the short-term target at 73.95.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the short-term upside target at 104.88; right now, it is consolidating around this level. Possibly, the pair may expand the range up to 105.05 and then start another correction towards 104.30. After that, the instrument may form one more ascending structure with the target at 105.20.

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.8920 and then forming a new consolidation range around this level, USDCHF has broken it to the upside to reach 0.8971. Today, the pair may start a new correction to return to 0.8920 and then resume trading upwards with the target at 0.9000.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7625 without any particular direction. Possibly, the pair may trade downwards to reach 0.7550 and then start another growth with the target at 0.7700.

BRENT

After completing the ascending structure at 56.30 and breaking it to the upside, Brent is still growing with the target at 57.90. Possibly, today the asset may reach 57.47 and then correct to test 56.30 from above. After that, the instrument may form one more ascending structure towards the above-mentioned target.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1851.30 without any particular direction. Possibly, the metal may break the range to the downside and resume trading downwards with the target at 1827.00. Later, the market may form one more ascending structure to reach 1851.40.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 34000.00, Later, the market may break this range to the downside to reach 26600.00 and then resume growing with the target at 40400.00.

S&P 500

The S&P index is consolidating around 3734.1. Possibly, the asset may expand the range up to 3832.0. After that, the instrument may start a new decline to break 3700.0 and then continue falling with the target at 3567.4.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.