Forex Technical Analysis & Forecast 06.07.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After completing the ascending structure with the short-term target at 1.1880, EURUSD is expected to fall towards 1.1851 and may later start another growth to finish the correction at 1.1895. After that, the instrument may form a new descending structure to break 1.1850 and then continue trading downwards with the target at 1.1800.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending structure at 1.3880, GBPUSD is expected to fall towards 1.3788 and may later grow to reach 1.3838, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the downside, the market may resume falling within the downtrend with the target at 1.3671.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has formed another consolidation range around 73.23. If later the price breaks this range to the upside, the market may start a new growth to reach 74.40; if to the downside – resume falling with the target at 72.00.

USDJPY, “US Dollar vs Japanese Yen”

After breaking 111.00 downwards, USDJPY has almost formed a downside continuation pattern with the first target at 110.27. Later, the market may form one more ascending wave to test 111.00 from below and then continue falling to reach 109.11.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling towards 0.9131. Possibly, today the asset may reach this level and start another growth with the target at 0.9340. After that, the instrument may fall to test 0.9131 from above and then resume moving upwards with the target at 0.9400.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still falling with the target at 0.7611. After reaching it, the instrument may resume falling to break 0.7411 and then continue trading within the downtrend towards 0.7303.

BRENT

After rebounding from 75.75 and completing another ascending structure at 77.25, Brent is expected to return to 75.75 and test it from above. Later, the market may form one more ascending structure with the target at 78.00 or even extend it up to 81.00.

XAUUSD, “Gold vs US Dollar”

Gold has finished the correction at 1795.85. Today, the metal may consolidate below this level. If later the price breaks this range to the downside, the market may resume falling with the short-term target at 1688.30.

S&P 500

The S&P index is consolidating above 4339.0. Today, the asset may fall to reach 4329.0 and then grow to return to 4339.0, thus forming a technical reversal pattern. Later, the market may start a new decline with the first target at 4236.6.

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.