Forex Technical Analysis & Forecast 10.08.2022

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

EURUSD is still falling towards 1.0187. After that, the instrument may grow to reach 1.0215 and then consolidate above 1.0187. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.0128, or even extend this structure down to 1.0080.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.2088. Today, the pair may fall towards 1.2050 and then form one more ascending wave to return to 1.2088. Later, the market may resume falling with the target at 1.2002, or even extend this structure down to 1.1970.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 134.94. Possibly, the pair may start a new decline with the target at 134.18 and then resume trading upwards to reach 135.75. After that, the instrument may fall towards 132.55.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF continues falling towards 0.9506; it has already completed the descending structure at 0.9506 along with the correction up to 0.9544. After that, the instrument may resume trading downwards to return to 0.9506 and then form one more ascending structure with the target at 0.9588.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues falling to break 0.6900 and may later continue trading downwards with the short-term target at 0.6797.

BRENT

Brent has finished the ascending structure at 99.90; right now, it is falling to break 96.44 and may later continue trading downwards to reach 93.00. After that, the instrument may start another growth with the target at 98.88.

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1800.00. Possibly, today the metal may fall towards 1752.00 and then resume trading upwards with the first target at 1822.40.

S&P 500

The S&P index has reached 4111.0; right now, it is consolidating above it. Possibly, the asset may extend this descending wave down to 4075.7. Later, the market may resume trading upwards to reach 4211.0 and then start a new decline with the first target at 3919.0.

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.