Forex Technical Analysis & Forecast 02.06.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.2230. If later the price breaks this range to the upside, the market may expand it up to 1.2286; if to the downside – start a new decline to break 1.2150 and then continue the correction with the target at 1.2100.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending impulse at 1.4144, GBPUSD is expected to form a new consolidation range above this level. Possibly, the pair may correct towards 1.4194. Later, the market may form a new descending structure with the target at 1.4090 or even reach 1.4035.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating above 73.13 without any particular direction. Possibly, today the pair may correct towards 73.86 and then resume falling to reach 72.54. After that, the instrument may start another correction to test 73.13 from below and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After forming another consolidation range, this time above 109.32, USDJPY is trading to break it to the upside. Today, the pair may form one more ascending structure with the short-term target at 110.35.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correctional wave at 0.8950, USDCHF is growing to break 0.8993. Later, the market may continue trading upwards with the target at 0.90387 or even reach 0.9125.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating below 0.7767. Possibly, the pair may break the range to the downside and resume trading downwards with the short-term target at 0.7603.

BRENT

Brent has finished the ascending wave at 71.00. Today, the asset may correct towards 69.84 and then form one more ascending structure with the short-term target at 73.00, thus continuing the uptrend towards 75.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1900.00; it has already expanded the range up to 1916.20. Today, the metal may form a new descending structure to reach 1887.60 and then start another correction with the target at 1902.00.

S&P 500

The S&P index is still consolidating around 4168.3 without any particular direction. Possibly, the asset may expand the range towards the short-term target at 4272.1. Later, the market may fall to reach 4168.3 and then resume trading upwards with the target at 4297.3.

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.