Forex Technical Analysis & Forecast 04.02.2022

EURUSD, “Euro vs US Dollar”

Having 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 Dollar”

After 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 Ruble”

Having 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 Yen”

After 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 Franc”

Having 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 Dollar”

After finishing the ascending wave at 0.7167 along with the correction towards 0.7125, AUDUSD is growing to break 0.7170 and may later continue trading upwards with the target at 0.7194 or even extend this structure up to 0.7212. After that, the instrument may form a new descending structure to reach 0.7075.



BRENT

Having broken 91.40, Brent is growing towards 94.18 and may later correct to return to 91.40. After that, the instrument may resume trading upwards with the target at 100.00.



XAUUSD, “Gold vs US Dollar”

After finishing the correction at 1788.95 and rebounding from this level, Gold is growing towards 1815.00. Later, the market may break this level to the upside and continue trading upwards with the short-term target at 1841.73.



S&P 500

The S&P index has completed the descending structure at 4469.3; right now, it is growing towards 4529.7. After that, the instrument may form a new descending structure to reach 4429.7 and then start another growth with the target at 4637.4.



Source: Roboforex

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