Forex Technical Analysis & Forecast 01.08.2022

EURUSD, “Euro vs US Dollar”

EURUSD is still consolidating around 1.0207. Possibly, today the pair may grow towards 1.0275 and then resume trading downwards with the target at 1.0117, or even extend this structure down to 1.0077.



GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues consolidating around 1.2167. Possibly, the pair may move upwards to reach 1.2272 and then start a new decline with the target at 1.2118, or even extend this structure down to 1.1961.



USDJPY, “US Dollar vs Japanese Yen”

USDJPY continues falling with the target at 130.70. After that, the instrument may form one more ascending structure with the first target at 135.08.



USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9500. Today, the pair may fall towards 0.9477 and then resume trading upwards with the target at 0.9566, or even extend this structure up to 0.9700.



AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is still consolidating around 0.7000. Possibly, today the pair may grow towards 0.7050 and then resume trading downwards with the target at 0.6898, or even extend this structure down to 0.6842.



BRENT

Brent has completed the correctional wave at 106.18; right now, it is consolidating around this level. Today, the asset may expand the range down to 104.80 and then form one more ascending wave to break 108.33. After that, the instrument may continue trading upwards with the target at 111.77.



XAUUSD, “Gold vs US Dollar”

Gold has finished the descending impulse at 1742.00; right now, it is consolidating above this level. Possibly, the metal may start another correction down to 1736.90 and then resume trading upwards with the first target at 1792.92.



S&P 500

The S&P index has reached the short-term upside target at 4114.0. Possibly, today the asset may consolidate below this level. If later the price breaks the range to the downside, the market may start a new correction towards 3923.3; if to the upside – form one more ascending structure with the target at 4210.0.



Source: Roboforex

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