Forex Technical Analysis & Forecast 30.07.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending wave at 1.1892; right now, it is consolidating below this level. If later the price breaks this range to the upside, the market may continue the correction with the target at 1.1902; if to the downside – start a new decline to test 1.1820 from above and then form one more ascending structure to reach the above-mentioned target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has reached the short-term correctional target at 1.3970. Possibly, today the pair may form a new descending structure towards 1.3880 and then start another growth to reach 1.4000. Later, the market may resume trading downwards with the target at 1.3570.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.00. Today, the pair may start another growth to test 73.50 from below and then resume trading downwards to break 72.66. After that, the instrument may continue falling with the short-term target at 72.16.

USDJPY, “US Dollar vs Japanese Yen”

After completing another descending wave at 109.40, USDJPY is consolidating above this level. Possibly, the pair may correct to test 109.99 from below and then form a new descending structure with the short-term target at 108.88.

USDCHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.9055, USDCHF is forming a new consolidation range above this level. Today, the pair may break the range to the upside and test 0.9105 from below. After that, the instrument may start another decline with the target at 0.9044.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating below 0.7388. If later the price breaks this range to the upside, the market may grow towards 0.7510; if to the downside – fall to reach 0.7272 and then resume trading upwards with the target at 0.7544.

BRENT

Brent is trading above 75.00. Possibly, the asset may continue growing to reach 77.00 and then start a new correction towards 73.00. After that, the instrument may form one more ascending structure with the target at 81.00.

XAUUSD, “Gold vs US Dollar”

After completing the ascending wave at 1828.50, Gold is consolidating below this level. Possibly, the metal may fall to test 1809.25 from above and then finish the correction by forming one more ascending structure towards 1835.00. Later, the market may start a new decline with the target at 1765.55.

S&P 500

After finishing the ascending wave at 4430.0, the S&P index is falling towards 4331.4, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may form a new descending structure with the first target at 4233.3.

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.