Forex Technical Analysis & Forecast 08.06.2020
EURUSD, “Euro vs US Dollar”
After finishing another ascending structure at 1.1380, EURUSD is correcting downwards to reach 1.1270. Possibly, the pair may reach this level and then grow towards, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may fall to reach 1.1174; if to the upside – resume trading upwards with the target at 1.1400.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading upwards. Today, the pair may reach 1.2740 or even extend this ascending structure up to 1.2770. After that, the instrument may start a new decline with the target at 1.2615.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is falling to reach 67.55. Later, the market may resume growing to break 68.40 and then continue the correction towards 70.00. After that, the instrument may resume trading inside the downtrend.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting towards 109.35. Possibly, the pair may reach this level and then form one more ascending structure with the target at 110.10. Later, the market may start another correction towards 108.77.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is still growing towards 0.9666. After that, the instrument may start a new correction with the target at 0.9600.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is growing towards 0.7020. Possibly, the pair may reach this level and then start another correction to break 0.6926. Later, the market may continue falling with the target at 0.6787.
Brent is still growing towards 43.46. After that, the instrument may correct to break 38.85 and then continue falling with the target at 33.00. Later, the market may resume trading upwards to reach 45.50.
XAUUSD, “Gold vs US Dollar”
Gold is correcting to test 1690.37 from below. Later, the market may continue forming the third descending wave with the target at 1658.25. After that, the instrument may start another growth to return to 1690.40 and then resume trading downwards to reach 1600.00.
BTCUSD, “Bitcoin vs US Dollar”
After completing the ascending wave at 9700.00, BTCUSD is consolidating around this level. If later the price breaks the range to the upside, the market may continue the correction to reach 10000.00; if to the downside – resume trading downwards with the target at 9100.00.
The Index has completed the ascending wave at 319.4; right now, it is consolidating near the highs. Possibly, today the asset may fall to reach 3125.5 and then form one more ascending structure with the target at 3252.7.