Forex Technical Analysis & Forecast 28.02.2022

EURUSD, “Euro vs US Dollar”

After completing the correctional wave at 1.1270, EURUSD is forming a new descending impulse to reach 1.1060. Later, the market may resume trading upwards with the target at 1.1290.



GBPUSD, “Great Britain Pound vs US Dollar”

Having finished the correction at 1.3440, GBPUSD is falling towards 1.3260. After that, the instrument may correct to reach 1.3340 and then form a new descending structure with the short-term target at 1.3155.



USDRUB, “US Dollar vs Russian Ruble”

USDRUB has formed a new consolidation range around 83.13. If later the price breaks this range to the downside, the market may resume falling towards 78.30; if to the upside – form one more ascending structure with the target at 88.00.



USDJPY, “US Dollar vs Japanese Yen”

USDJPY is growing to reach 115.81 and may later start a new decline to break 115.10. After that, the instrument may continue trading downwards with the target at 114.40.



USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9250. Today, the pair may resume trading upwards to reach 0.9296 and then start a new decline with the target at 0.9220.



AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is forming a new descending impulse towards 0.7142. Possibly, the pair may break this level and continue falling with the target at 0.7050.



BRENT

After completing the correction at 95.60 along with another ascending impulse towards 101.00 and then forming a new consolidation range around the latter level, Brent has broken the range to the upside and may later resume growing to reach 107.00. After that, the instrument may start a new decline with the target at 101.00.



XAUUSD, “Gold vs US Dollar”

Gold has finished the correctional wave at 1877.77; right now, it is growing towards 1937.00. Possibly, the metal may break the latter level and form one more ascending structure to reach 1995.15. Later, the market may resume falling towards 1945.00 and then start another growth with the target at 2020.00.



S&P 500

After completing the correctional wave at 4380.0, the S&P index is expected to fall and reach 4070.5. Later, the market may start a new correction with the target at 4330.0.



Source: Roboforex

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