Forex Technical Analysis & Forecast 04.01.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD has reached the short-term upside target at 1.1385. Possibly, today the pair may correct towards 1.1255 and then form one more ascending structure with the target at 1.1400.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.3548, GBPUSD is correcting downwards to reach 1.3407 and may later resume trading upwards with the target at 1.3478.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending impulse at 74.21 along with the correction towards 74.68. Today, the pair may continue falling with the short-term target at 73.16.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has finished the ascending wave at 115.79. Possibly, today the pair may correct towards 115.44 and then resume growing with the short-term target at 116.00. Later, the market may start another correction to reach 115.00 and then form one more ascending structure towards 116.33.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the descending wave at 0.9103; right now, it is growing towards 0.9212. After that, the instrument may form a new descending structure to reach 0.9157 and then resume trading upwards with the target at 0.9258.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the ascending wave at 0.7276, AUDUSD is falling towards 0.7158. Later, the market may resume trading upwards to reach 0.7317 and then start another decline with the target at 0.7080.

BRENT

Brent is forming a narrow consolidation range around 79.00. Possibly, today the asset may expand the range up to 81.55 and then start a new decline towards 80.00. After that, the instrument may resume growing with the target at 84.24.

XAUUSD, “Gold vs US Dollar”

After finishing another ascending structure at 1831.31, Gold is correcting and may reach 1795.10. After that, the instrument may resume trading upwards with the short-term target at 1838.13.

S&P 500

The S&P index is still consolidating around 4800.0 without any specific direction. Today, the asset may grow towards 4845.5 and then form a new descending wave with the target at 4690.0.

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.