Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Forex Technical Analysis Forecast for February 2022

Posted: 31 Jan 2022 03:57 PM PST

EURUSD, Euro vs US DollarAs we can see in the daily chart, EURUSD is forming the structure of the ascending wave with the first target at 1.1313. Later, the market may correct towards 1.1220 and then resume trading upwards to break 1.1420. After that, the instrument may continue growing with the shortterm target at 1.1600.GBPUSD, Great Britain Pound vs US DollarIn the daily chart, GBPUSD is falling with the target at 1.3350. After that, the instrument may correct towards 1.3555 and then start another decline with the shortterm target at 1.3140.USDRUB, US Dollar vs Russian RubleAs we can see in the daily chart, USDRUB is trading downwards to reach 76.33. After that, the instrument may correct towards 78.00. Later, the market may form a new descending wave to reach 74.90 or even extend this wave down to 73.22.USDJPY, US Dollar vs Japanese YenIn the daily chart, USDJPY has finished the correction at 115.66. Possibly, the pair may start a new decline to break 114.20 and then continue trading downwards with the shortterm target is at 112.70.BRENTAs we can see in the daily chart, Brent has broken 85.00 to the upside; right now, it is still growing towards 93.00. Later, the market may start another correction to test 85.00 from above and then resume trading upwards with the target at 100.00.XAUUSD, Gold vs US DollarIn the daily chart, after finishing the correctional wave at 1782.00, Gold is expected to grow towards 1840.00. After breaking this level, the instrument may form one...

Fibonacci Retracements Analysis 01.02.2022 EURUSD, USDJPY

Posted: 01 Feb 2022 01:27 AM PST

EURUSD, Euro vs US DollarAs we can see in the daily chart, the downtrend continues as the asset is heading towards 76.0 fibo at 1.1047. At the moment, the pair is correcting upwards after completing the previous descending impulse. After the pullback is over, EURUSD may resume falling towards its key target. At the same time, there is divergence on MACD, which may indicate a possible tendency reversal.The H4 chart shows a more detailed structure of the current correction, which has already broken 23.6 fibo and may later continue towards 38.2 and 50.0 fibo at 1.1259 and 1.1302 respectively. The key resistance is at 1.1483, while the support is the local low at 1.1120.USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is moving upwards after convergence on MACD; it has already reached 76.0 fibo and may later continue to break the high at 116.35. After that, the instrument may continue growing towards the postcorrectional extension area between 138.2 and 161.8 fibo at 117.45 and 118.14 respectively. The key support is the low at 113.47.In the H1 chart, local convergence made the pair stop growing and start a new correctional downtrend, which has already broken 23.6 and may later continue towards 38.2 and 50.0 fibo at 114.83 and 114.57 respectively. A breakout of the local resistance at 115.68 will result in a further midterm uptrend.

Forex Technical Analysis Forecast 01.02.2022

Posted: 31 Jan 2022 11:42 PM PST

EURUSD, Euro vs US DollarHaving completed the ascending wave at 1.1180 along with the correction towards 1.1144. EURUSD is growing with the shortterm target at 1.1300. Later, the market may start a new correction to reach 1.1222 and then form one more ascending structure with the target at 1.1320.GBPUSD, Great Britain Pound vs US DollarAfter finishing the ascending wave at 1.3444 along with the correction towards 1.3393, GBPUSD is moving upwards to reach 1.3505. Later, the market may start another correction to return to 1.3444 and then resume trading upwards with the target at 1.3550.USDRUB, US Dollar vs Russian RubleUSDRUB is still falling towards 76.60. After that, the instrument may correct towards 77.80 and then resume trading downwards with the first target at 76.00.USDJPY, US Dollar vs Japanese YenHaving broken 115.10, USDJPY is still falling towards 114.62. Later, the market may correct to test 115.10 from below and then resume falling with the target at 114.44.USDCHF, US Dollar vs Swiss FrancUSDCHF is still falling towards 0.9222. After that, the instrument may start another growth with the target at 0.9350.AUDUSD, Australian Dollar vs US DollarAUDUSD has reached the shortterm upside target at 0.7075; right now, it is correcting towards 0.7023. Later, the market may resume trading upwards with the target at 0.7091.BRENTBrent is still consolidating above 89.66. Possibly, the asset may grow to reach 93.00. After that, the instrument may correct towards 85.00 and...
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