Forex Technical Analysis & Forecast 03.06.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD completed the first ascending waver along with the correction; right now, it is trading upwards. Possibly, the pair may form one more ascending structure with the short-term target at 1.1197. After that, the instrument may start another decline towards 1.1166 and then resume growing to reach 1.1216.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading upwards. Today, the pair may reach 1.2666 and then form a new descending structure towards 1.2626. Later, the market may start a new growth with the first target at 1.2696.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF formed the consolidation range around 1.0006; it broke the range downwards and may form a new descending structure with the short-term target at 0.9948. After that, the instrument may start another growth to return to 1.0006 and then resume trading downwards with the target at 0.9915.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY broke 108.77 and may continue trading inside the downtrend with the target at 107.88. Later, the market may form one more ascending structure to test 108.77 from below and then resume trading inside the downtrend with the target at 106.15.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD reached its predicted upside target. Possibly, today the pair may consolidate around 0.6940. If later the price breaks this range to the downside, the instrument may resume trading inside the downtrend with the target at 0.6900; if to the upside – continue trading upwards to reach 0.6975.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB broke the descending channel to the downside. Possibly, the pair may start another decline to reach 6484 and then form one more ascending structure towards 65.20. After that, the instrument may break this level upwards and continue trading upwards with the target at 65.56.

XAUUSD, “Gold vs US Dollar”

Gold formed the consolidation range around 1293.10, broke it upwards, and then reached the short-term target at 1311.20; right now, it is growing towards 1316.77. Possibly, today the pair may start a new decline to return to 1293.10 and test it from above. After that, the instrument may form one more ascending structure towards 1316.77 and then resume falling to return to 1293.10.

BRENT

Brent formed the consolidation range around 65.37, broke it downwards, and then reached 61.55. Today, the pair may consolidate above this level. If later the price breaks this range to the upside, the instrument may start another growth to reach 65.40; if to the downside – resume trading inside the downtrend with the target at 61.00 and then form one more ascending structure towards 70.00.