Forex Technical Analysis & Forecasts

Forex Technical Analysis & Forecasts

Forex Technical Analysis Forecast 07.02.2022

Posted: 06 Feb 2022 11:36 PM PST

EURUSD, Euro vs US DollarHaving completed the descending wave along with the correction, EURUSD has formed a new consolidation range near the highs. Possibly, today the pair may break the range to the downside and correct towards 1.1366. Later, the market may resume trading upwards with the target at 1.1427.GBPUSD, Great Britain Pound vs US DollarAfter forming a new consolidation range around 1.3559 and breaking it to the downside, GBPUSD is expected to fall towards 1.3500. Later, the market may start a new growth with the target at 1.3555.USDRUB, US Dollar vs Russian RubleUSDRUB continues trading downwards to reach 75.35. After that, the instrument may form one more ascending structure towards 76.46 and then start another decline with the target at 73.87.USDJPY, US Dollar vs Japanese YenAfter finishing the ascending wave at 115.40, USDJPY is expected to consolidate around this level. If later the price breaks this range to the downside, the market may start a new decline to break 114.66. After that, the instrument may continue falling with the first target at 114.05.USDCHF, US Dollar vs Swiss FrancHaving completed the ascending wave at 0.9232 and formed a new consolidation range around this level, USDCHF has broken it to the upside. Possibly, today the pair may grow to reach 0.9294 and then start a new correction to return to 0.9232.AUDUSD, Australian Dollar vs US DollarAfter breaking 0.7100 to the downside, AUDUSD is expected to continue trading downwards with the target...

Fibonacci Retracements Analysis 07.02.2022 GOLD, USDCHF

Posted: 06 Feb 2022 11:06 PM PST

XAUUSD, Gold vs US DollarAs we can see in the H4 chart, the asset is correcting upwards after plummeting before. Divergence on MACD, which made the pair form the first descending wave earlier, may force the second one. The closest downside target may be 61.8 fibo at 1730.00. However, an alternative scenario implies that the current ascending correction may transform into a proper rising wave to reach the high at 1877.09, a breakout of which may lead to a further uptrend towards the longterm 61.8 fibo at 1908.00.The H1 chart shows a more detailed structure of the current ascending correction within the downtrend. After breaking 61.8 fibo, the pair started a pullback, which has already returned to 38.2 fibo. After the pullback is over, the asset is expected to resume falling 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, USDCHF is forming another rising impulse within the midterm uptrend; the previous impulse reached 76.0 fibo but then the pair was made to return to 38.2 fibo. If the price breaks the high at 0.9374, 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 after reaching 61.8 fibo, the descending wave was followed by a new ascending structure, which has already reached 50.0 fibo and may later continue towards 61.8 and...

Fibonacci Retracements Analysis 04.02.2022 AUDUSD, USDCAD

Posted: 04 Feb 2022 12:39 AM PST

AUDUSD, Australian Dollar vs US DollarThe daily chart shows a double test of the longterm 38.2 fibo and an update of the low, as well as convergence on MACD. In this case, the pair is expected to start a new rising correction, which may later be followed by a further downtrend towards 50.0 and 61.8 fibo at 0.6758 and 0.6464 respectively. The resistance is the high at 0.8007.In the H4 chart, the asset is forming the first correctional wave, which is approaching to test 23.6 fibo at 0.7212 and may later continue up to 38.2 and 50.0 fibo at 0.7364 and 0.7487 respectively. If the price breaks the local support at 0.6967, it may continue the midterm descending tendency.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, the asset is correcting within the rising wave, which earlier tested 61.8 fibo. After the pullback is over, the pair may resume growing towards 76.0 fibo and the high at 1.2840 and 1.2963 respectively. A breakout of the high will result in a further uptrend towards the longterm 38.2 fibo at 1.3023. The support is the low at 1.2450.The H1 chart shows a more detailed structure of the current shortterm correction. After testing 38.2 fibo several times, the descending wave has failed to break it. Possibly, the price may yet fall and complete the pullback at 50.0 fibo. Later, the asset may resume trading upwards to reach the local high at 1.2796.

Forex Technical Analysis Forecast 04.02.2022

Posted: 04 Feb 2022 12:21 AM PST

EURUSD, Euro vs US DollarHaving completed the ascending wave at 1.1466, EURUSD is consolidating below this level. Possibly, today the pair may correct down to 1.1280 and then start another growth to break 1.1500. Later, the market may continue trading upwards with the target at 1.1550.GBPUSD, Great Britain Pound vs US DollarAfter finishing the ascending wave at 1.3626, GBPUSD is consolidating below this level. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.3490.USDRUB, US Dollar vs Russian RubleHaving completed the ascending wave at 76.78 along with the descending structure towards 76.16, USDRUB has defined the borders of a new consolidation range. If later the price breaks this range to the upside, the market may correct towards 77.50; if to the downside resume falling with the target at 73.83.USDJPY, US Dollar vs Japanese YenAfter finishing the correction at 115.04, USDJPY is falling to break 114.57 and may later continue trading downwards with the target at 114.04.USDCHF, US Dollar vs Swiss FrancHaving completed the descending wave at 0.9218 along with the ascending structure to test 0.9232 from below, USDCHF has finished another descending wave towards 0.9178. Possibly, today the pair may break this level and continue trading downwards with the target at 0.9136.AUDUSD, Australian Dollar vs US DollarAfter finishing the ascending wave at 0.7167 along with the correction towards 0.7125, AUDUSD is growing...
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