Forex Technical Analysis & Forecast 04.06.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

After forming the consolidation range around 1.1196, EURUSD has broken it upwards and reached the short-term target. Possibly, the pair may continue the correction; the current wave may be considered as the third one with the target at 1.1277. Today, the pair may reach 1.1214 and then another decline towards 1.1277.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating around 1.2630; it has expanded its range upwards. Possibly, today the pair may form a new descending structure to test 1.2630 from above and then start another growth with the target at 1.2700.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has almost completed the third descending wave with the target at 0.9915. Today, the pair may form a new consolidation range near the lows. If later the price breaks this range to the upside, the instrument may start a new correction to reach 1.0003 and then resume trading downwards with the target at 0.9900.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the predicted target of the third descending wave; right now, it is consolidating near the lows. Possibly, today the pair may form one more ascending structure with the target at 108.77. Later, the market may resume trading inside the downtrend towards 107.63.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the short-term upside target at 0.6984. Possibly, the pair may consolidate near the highs. If later the price breaks this range to the downside, the instrument may be corrected towards 0.6940 and then resume growing to complete the correction at 0.7015. After that, the instrument may resume trading inside the downtrend with the target at 0.6800.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating around 65.20. If later the price breaks this range to the downside, the instrument may form a new descending structure towards 64.60; if to the upside – extend the wave with the short-term target at 66.06 and then resume trading downwards to return to 65.20.

XAUUSD, “Gold vs US Dollar”

Gold has broken 1300.00 upwards and may continue the third wave up to 1333.00. Possibly, today the pair may consolidate near the highs. After that, the instrument may break 1323.00 to the downside and then start another correction to reach 1310.00. Later, the market may form one more ascending structure towards 1333.00 and then resume falling with the target at 1301.00.

BRENT

Brent is still consolidating near the lows. Possibly, the pair may reach 60.50 and then start a new growth with the first target at 67.00. After that, the instrument may be corrected towards 64.00.