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Forex Technical Analysis & Forecast 31.01.2022

EURUSD, “Euro vs US Dollar”

After reaching the target at 1.1125, EURUSD is growing towards 1.1186 and may later fall to reach 1.1148, thus forming a new consolidation range between the two latter levels. A breakout of this range to the upside may result in a new ascending wave with the first target at 1.1220.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating above 1.3360; right now. it is forming one more ascending structure towards 1.3437 and may later start another decline to reach 1.3347. After that, the instrument may resume trading upwards with the first target at 1.3550.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is still consolidating below 78.15. Possibly, the pair may soon resume trading downwards with the short-term target at 77.14.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

Having finished the first descending wave at 115.11 along with the correction towards 115.56, USDJPY is expected to resume trading downwards and break 115.11. Later, the market may continue falling with the target at 114.56.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating around 0.9300. Today, the pair may form a new descending structure towards 0.9280 and then grow to return to 0.9300. Later, the market may start another decline with the target at 0.9222.

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

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing to break 0.7022 and may later continue trading upwards with the short-term target at 0.7069.

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

BRENT

Having completed the ascending wave at 91.42 along with the correction towards 89.50, Brent is expected to grow and break 91.40. After that, the instrument may continue trading within the uptrend towards 93.00 or even reach the target at 94.25.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1787.00. Today, the metal may grow towards 1797.67 and then fall to reach 1779.00. A breakout of this range to the upside may result in a new ascending wave with the first target at 1816.85.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is consolidating around 4360.0. Possibly, today the asset may grow to test 4458.4 from below and then resume continue trading downwards with the first target at 4170.0.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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