Forex Technical Analysis & Forecast 05.02.2021
EURUSD, “Euro vs US Dollar”
After reaching 1.2000 and then forming another consolidation range there, EURUSD has broken it to the downside; right now, it is still falling towards 1.1950. Possibly, today the pair may reach this level and then correct towards 1.1970. Later, the market may extend this descending wave down to 1.1941. After breaking the channel of this wave, the instrument may resume growing with the first target at 1.2155.
GBPUSD, “Great Britain Pound vs US Dollar”
After completing the descending wave at 1.3565 and then returning to 1.3670, GBPUSD is consolidating around the latter level. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 1.3755; if to the downside – continue the correction to reach 1.3490.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is falling towards 75.00 and may later consolidate there. After that, the instrument may break the range to the downside and resume trading downwards with the target at 73.52.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is extending the ascending wave. Possibly, today the pair may consolidate below 105.55. If later the price breaks this range to the downside, the market may start a new decline to break 105.00 and then continue falling with the target at 103.33.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is moving upwards and has finished another ascending wave. Possibly, the par may for one more ascending structure to reach 0.9062. However, the asset may start plunging at any moment. The first target is at 0.8968.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is still falling towards 0.7550. After that, the instrument may start another growth with the target at 0.7650.
Brent has completed the ascending wave at 59.20. Possibly, today the asset may correct towards 57.30 and then form one more ascending structure with the target at 59.69.
XAUUSD, “Gold vs US Dollar”
Gold has finished the descending wave at 1795.50. Today, the metal may grow with the target at 1818.60 and then resume trading downwards to reach 1761.50.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is correcting towards 35300.00. Later, the market may resume trading upwards to reach 39000.00 and then form a new descending structure with the target at 31700.00.
The S&P index has broken the consolidation range to the upside. Possibly, today the asset may continue growing to reach 3917.0 and then start a new decline towards 3821.7. After that, the instrument may form one more ascending wave with the target at 3948.7.