Forex Technical Analysis & Forecast 09.02.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After forming another consolidation range around 1.2050, EURUSD has expanded it up to 1.2080. Later, the market may form a new descending structure to break 1.2015 and then continue falling with the target at 1.1944.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has expanded its consolidation range up to 1.3782. Possibly, today the pair may fall to reach 1.3740 and then form one more ascending structure towards 1.3820. 1.3671. After that, the instrument may start another decline to break 1.3672 and then continue trading downwards with the target at 1.3600.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending wave at 74.24; right now, it is consolidating around this level. Possibly, the pair may break the range to the downside and then resume trading downwards with the short-term target at 73.63.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still falling towards 104.64. Later, the market may resume growing with the target at 105.10 and then form a new descending structure to reach 104.50.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has reached the key correctional target at 0.8969; right now, it is consolidating there. Possibly, the pair may expand the range down to 0.8955 and then form one more ascending structure with the target at 0.9070.

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the short-term upside target at 0.7720, AUDUSD is expected to consolidate there. Later, the market may break the range to the downside and correct towards 0.7651. After that, the instrument may start another growth with the target at 0.7739.

BRENT

After reaching 60.00 and forming a new consolidation range there, Brent has broken it to the upside to reach 61.00. After that, the instrument may correct to return to 60.00. and then form one more ascending structure with the key target at 62.50.

XAUUSD, “Gold vs US Dollar”

After forming another consolidation range around 1813.50 and breaking it to the upside, Gold has completed this ascending wave at 1842.22. Today, the metal may start consolidating around the latter level. Later, the market may break the range to the downside and resume trading downwards with the target at 1780.70.

BTCUSD, “Bitcoin vs US Dollar”

After forming a new consolidation range around38800.00 and breaking it to the upside, BTCUSD continues extending the current ascending wave with the target at 48100.00. After that, the instrument may resume falling with the target at 38800.00.

S&P 500

The S&P index has completed the ascending wave with the short-term target at 3917.0. Today, the asset may consolidate around this level. After breaking the range to the downside, the instrument may correct towards 3821.7 and then form one more ascending wave with the target at 3940.5.

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.