Forex Technical Analysis & Forecast 07.04.2022

EURUSD, “Euro vs US Dollar”

EURUSD continues forming the descending wave and may soon reach at 1.0855. After that, the instrument may correct towards 1.0945 and then start another decline with the target at 1.0806.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the descending wave at 1.3079, GBPUSD has formed a new consolidation range around this level. Possibly, the pair may break the range to the downside and resume falling towards 1.2999. Later, the market may form one more ascending structure to reach 1.3060 and then start a new decline with the short-term target at 1.2960.

USDJPY, “US Dollar vs Japanese Yen”

Having completed the correctional wave at 123.89 and formed a new consolidation range there, USDJPY has broken it to the downside to reach 122.40. Possibly, today the pair may break this level as well and then continue trading downwards with the first target at 120.80.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished the descending impulse at 0.9303 along with the correction towards 0.9333. Today, the pair may fall to reach 0.9264 or even extend this correction down to 0.9254.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues trading downwards to reach 0.7414 and may later start another correction to with the target at 0.7575. After that, the instrument may form a new descending structure with the target at 0.7300.


Brent is still correcting towards 99.65. Later, the market may resume moving within the uptrend with the target at 115.50.

XAUUSD, “Gold vs US Dollar”

Having completed the correction at 1915.00, Gold is still consolidating around 1920.00. Possibly, the metal may extend the descending wave down to 1896.00. After that, the instrument may grow to break 1956.77 and then continue trading upwards with the target at 2000.00.

S&P 500

The S&P index has finished the descending wave at 4487.3 and may later consolidate there. After that, the instrument may break the range downwards and start another decline to reach 4372.5 or even extend this structure down to 4333.3.

Source: Roboforex

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