Forex Technical Analysis & Forecast 07.06.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2132 along with the correction towards 1.2185, EURUSD is consolidating below the latter level. Possibly, the pair may continue this decline to reach 1.2704. Later, the market may correct to test 1.2155 from below and then resume trading downwards with the target at 1.2050.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4108 along with the correction towards 1.4179, GBPUSD is expected to continue falling towards 1.4034. Later, the market may correct to test 1.4100 from below and then form a new descending structure with the target at 1.3960.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still falling towards 72.72. After that, the instrument may start another correction to reach 73.28 and then resume trading downwards with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 110.30 along with the correction towards 109.44, USDJPY is expected to form one more ascending structure with the target at 110.55.

USDCHF, “US Dollar vs Swiss Franc”

After completing the correction at 0.8982, USDCHF is consolidating above this level. Possibly, the pair may resume growing to break 0.9036 and then continue trading upwards with the short-term target at 0.9090.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the correction at 0.7735. Today, the pair may form a new descending structure towards 0.7627 and then start another correction to reach 0.7685. After that, the instrument may resume trading downwards with the target at 0.7600.

BRENT

Brent has completed the ascending wave at 72.08. Possibly, today the asset may correct to reach 70.20 and then form one more ascending structure with the short-term target at 75.55.

XAUUSD, “Gold vs US Dollar”

Gold has completed the correctional wave at 1893.30. Today, the metal may corm a new descending structure to break 1869.20 and then continue trading downwards to reach 1848.26. Later, the market may start another growth with the target at 1880.00.

S&P 500

The S&P index is moving upwards. Possibly, today the asset may break 4233.3 and then continue growing with the target at 4273.1. After that, the instrument may correct downwards to test 4168.3 from above and then form one more ascending structure to reach 4300.0.

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.