Forex Technical Analysis & Forecast 01.07.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1907 and breaking the consolidation range to the downside, EURUSD continues falling towards 1.1830. Later, the market may correct to reach 1.1870 and then start another decline with the target at 1.1771.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3834. Possibly, the pair may form a downside continuation pattern and break the current lows to reach 1.3737. In fact, the asset is expected to form the third descending wave within the downtrend.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has expanded its consolidation range up to 73.15; right now, it is trading below this level. If later the price breaks the range to the upside, the market may start another correction with the target at 73.53; if to the downside – resume falling within the downtrend towards 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After rebounding from 110.41 and then completing the ascending wave at 110.88, USDJPY has broken the latter level; right now, it is still moving upwards with the target at 111.44. Later, the market may form a new descending wave to reach 107.00.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still growing to reach 0.9277. After that, the instrument may correct downwards to reach 0.9131 and then resume moving upwards with the target at 0.9340.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still falling towards 0.7411 and may later resume trading upwards to reach 0.7612. After that, the instrument may form a new descending structure with the first target at 0.7304.

BRENT

Brent continues consolidating around 74.50. Possibly, the asset may fall to reach 73.00 and then form one more ascending wave to break 75.67. After that, the instrument may continue trading upwards with the target at 78.00.

XAUUSD, “Gold vs US Dollar”

After completing the descending wave at 1750.00, Gold is growing towards 1777.88 and may later fall to reach 1764.34, thus forming a new consolidation range between the two latter levels. If the price breaks the range to the upside, the market may start another growth with the target at 1833.00; if to the downside – resume falling within the downtrend towards 1700.00.

S&P 500

The S&P index has finished the ascending wave at 4303.3. Today, the asset may extend this wave up to 4315.0 and then start another correction with the target at 4236.6. After that, the instrument may form one more ascending structure towards 4339.0.

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.