Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Fibonacci Retracements Analysis 31.01.2022 GOLD, USDCHF

Posted: 31 Jan 2022 12:39 AM PST

XAUUSD, Gold vs US DollarAs we can see in the H4 chart, after attempting to reach the high at 1877.09, XAUUSD is forming a steady wave to the downside and has already returned to 38.2 fibo tested earlier. The next downside targets may be 61.8 and 76.0 fibo at 1730.00 and 1696.10 respectively.The H1 chart shows a shortterm correction to the downside after the previous ascending impulse, which earlier broke 61.8 fibo. After the pullback is over, the asset may fall towards 76.0 fibo at 1776.85 and then the low at 1752.50. The local resistance is at 1853.78.USDCHF, US Dollar vs Swiss FrancAs we can see in the H4 chart, after testing the support at 0.9085, the asset is steadily growing and has already reached 76.0 fibo. The key resistance and upside target are the high at 0.9374. if the price breaks it, the instrument may continue growing towards the postcorrectional extension area between 138.2 and 161.8 fibo at 0.9482 and 0.9548 respectively. The support is at 0.9092.The H1 chart shows that the pair is moving sideways after skyrocketing earlier. The shortterm correctional targets are 23.6 and 38.2 fibo at 0.9284 and 0.9250 respectively. If USDCHF breaks the local high at 0.9338, it may continue growing to reach the key one at 0.9374.

Forex Technical Analysis Forecast 31.01.2022

Posted: 30 Jan 2022 11:36 PM PST

EURUSD, Euro vs US DollarAfter reaching the target at 1.1125, EURUSD is growing towards 1.1186 and may later fall to reach 1.1148, thus forming a new consolidation range between the two latter levels. A breakout of this range to the upside may result in a new ascending wave with the first target at 1.1220.GBPUSD, Great Britain Pound vs US DollarGBPUSD is still consolidating above 1.3360; right now. it is forming one more ascending structure towards 1.3437 and may later start another decline to reach 1.3347. After that, the instrument may resume trading upwards with the first target at 1.3550.USDRUB, US Dollar vs Russian RubleUSDRUB is still consolidating below 78.15. Possibly, the pair may soon resume trading downwards with the shortterm target at 77.14.USDJPY, US Dollar vs Japanese YenHaving finished the first descending wave at 115.11 along with the correction towards 115.56, USDJPY is expected to resume trading downwards and break 115.11. Later, the market may continue falling with the target at 114.56.USDCHF, US Dollar vs Swiss FrancUSDCHF is still consolidating around 0.9300. Today, the pair may form a new descending structure towards 0.9280 and then grow to return to 0.9300. Later, the market may start another decline with the target at 0.9222.AUDUSD, Australian Dollar vs US DollarAUDUSD is growing to break 0.7022 and may later continue trading upwards with the shortterm target at 0.7069.BRENTHaving completed the ascending wave at 91.42 along with the correction...
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