rfxsignals April 7, 2020 No Comments

Forex Technical Analysis & Forecast 07.04.2020

07.04.2020

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.0800; it has expanded the range up to 1.0835 and then down to 1.0776, and right now is growing to reach 1.0825. After that, the instrument may fall towards 1.0798, thus continuing the consolidation range in the form of a Triangle pattern. If later the price breaks this pattern to the upside, the market may form one more ascending wave towards 1.0900; if to the downside – resume moving inside the downtrend with the target at 1.0752.

EURUSD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has finished the descending wave at 1.2163. Possibly, today the pair may correct towards 1.2315 and then resume falling to break 1.2163. After that, the instrument may continue moving inside the downtrend to reach the short-term target at 1.2055.

GBPUSD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9775; it has almost formed a Double Top pattern. Today, the pair may expand the range down to 0.9754. Later, the market may return to 0.9766 and then form a new descending structure with the target at 0.9696.

USDCHF

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the correction at 109.35; right now, it is falling towards 108.18. The main scenario implies that the price may reach this level and then start another growth towards 108.70, thus forming a new consolidation range. Later, the market may break the range to the downside and then resume moving downwards with the target at 105.75.

USDJPY

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has finished the second descending impulse at 0.5979; right now, it is correcting towards 0.6129. After that, the instrument may start another decline with the short-term target at 0.5919.

AUDUSD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is forming a new descending structure towards 75.44. According to the main scenario, the price is expected to reach this level and then resume growing towards 77.30. Later, the market may resume trading downwards with the first target at 74.22.

USDRUB

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD continues falling towards 1.4060. Today, the pair may break this level and then continue trading downwards with the target at 1.3888. After that, the instrument may return to 1.4060 and then resume falling with the target 1.3822.

USDCAD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the ascending wave at 1675.65 without any corrections. Possibly, today the pair may fall to reach 1645.55 and then grow towards 1659.05. Later, the market may resume trading inside the downtrend with the target at 1615.30.

GOLD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After re-testing 30.63 from above, Brent is forming one more ascending structure to break 33.19. After that, the instrument may continue growing with the first target at 35.86 and then start a new correction towards 30.60 at least.

BRENT

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still forming the ascending structure; it has reached another target at 7400.00. Possibly, the pair may start another decline to reach 7050.00 and then resume growing towards 7530.00 to complete this ascending wave. After that, the instrument may start a new correction with the target at 5600.00.

BTCUSD

Forex Technical Analysis & Forecast 07.04.2020

Risk Warning: the result of previous trading operations do not guarantee the same results in the future