Forex Technical Analysis and Forecast 11.07.2022 :: InvestMacro


Article by RoboForex.com

EURUSD, “Euro vs. US Dollar”

After reaching the short-term downside target at 1.0072 and completing the upside wave at 1.0180, EURUSD is retracing towards 1.0120, forming a new consolidation range between the last two levels. If later the price breaks this range to the bottom, the market may resume the decline towards 1.0057 or even extend this structure to reach the target at 1.0000; If it rose to the top, start another correction up to 1.0222 and then resume the decline within the downtrend towards the aforementioned target.


Risk Warning: The result of previous trading operations does not guarantee the same results in the future

GBPUSD, “Great British Pound to US Dollar”

After it finished the descending impulsive wave at 1.1919 along with the ascending structure towards 1.2040, GBPUSD formed a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may resume its decline towards 1.1858, or even extend this structure to reach the target at 1.1838; If it is on the upside – start a new correction up to 1.2150, then resume trading within the downtrend towards the aforementioned target.

British Pounds / US Dollars
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”


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USDJPY is still correcting. Today, the pair is likely to form a new consolidation range near the lows. If the price later breaks the range to the downside, the market may start another decline towards 135.55.

US dollar / Japanese yen
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

USDCHF, “US Dollar vs. Swiss Franc”

USDCHF USDCHF forms a new consolidation range below 0.9790. If later the price breaks this range to the downside, the market may start correcting down to 0.9672; If it is on the upside – resume the upside with the target at 0.9850.

USDCHF
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

AUDUSD, “Australian dollar to US dollar”

AUDUSD continues to consolidate around 0.6833. The pair is likely to break the range to the downside and fall back to break 0.6790. After that, the instrument may continue to trade lower with the target at 0.6717.

AUDUSD
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

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Brent crude is consolidating around 107.50. Today, the asset may break the range on the upside and form another ascending wave towards 110.00. Later, the market may correct lower to 105.50 and then resume trading upwards with the target at 114.50.

print
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

XAUUSD, “Gold vs. US Dollar”

Gold continues to consolidate around 1744.40. The metal is likely to break the range lower and form a new descending wave targeting the short term at 1721.05. Later, the market may correct towards 1767.50, then resume the decline to reach 1700.00.

He went
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

Standard & Poor’s 500

The S&P index completed the ascending structure at 3920.0. The asset is likely to correct today to test 3841.3 from above, then resume the rise to break 3948.4. After that, the instrument may continue to trade upwards with the short-term target at 4040.0.

Standard & Poor's 500

Article by RoboForex.com

attention!
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.


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