Forex forecast and technical analysis 01.07.2022 :: InvestMacro

Article by RoboForex.com

EURUSD, “Euro vs. US Dollar”

After completing the descending wave at 1.0383 along with the correction up to 1.0484, the EURUSD continues to fall towards 1.0355. Later, the market may correct to return to 1.0484 and then resume trading lower with the target at 1.0300.

GBPUSD, “Great British Pound to US Dollar”

After completing the descending wave at 1.2100 along with the correction up to 1.2187, GBPUSD continues to fall towards 1.2079 and may correct later up to 1.2200. After that, the instrument may start falling again with the target at 1.2000.

USDJPY, “US Dollar vs Japanese Yen”

After ending the descending wave at 135.83 and then forming a new consolidation range around this level, USDJPY broke it to the downside and it may continue lower later with the short term target at 134.85. After that, the instrument may form another ascending structure to return to 135.82 and then resume trading lower to reach 134.66.

USDCHF, “US Dollar vs. Swiss Franc”

USDCHF completed the ascending wave at 0.9600 along with the correction down to 0.9535; At the moment, it is growing towards 0.9610. After that, the instrument may break this level upwards and then form another ascending structure targeting at 0.9685.

AUDUSD, “Australian dollar to US dollar”

After completing the descending wave at 0.6858 along with the correction to 0.6915, AUDUSD forms a new descending structure towards 0.6800. Later, the market may grow back to 0.6858 and then resume trading lower with the target at 0.6755.

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Brent crude is still correcting lower to 110.00. After that, the instrument may start growing again with the target at 116.85 or even extend this structure upwards to 123.00.

XAUUSD, “Gold vs. US Dollar”

Gold is falling towards 1799.40. Later, the market may grow to reach 1812.40 and then resume trading downwards with the target at 1791.30.

Standard & Poor’s 500

The S&P is still falling towards 3690.0. After that, the price may correct up to 3817.5 and then form a new descending wave targeting 3620.0.

Article by RoboForex.com

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Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.