Forex Technical Analysis & Forecast 06.06.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending structure towards 1.1700 and right now is consolidating around it. According to the main scenario, the price may fall to reach 1.1680, break it, and then continue trading to the downside towards 1.1633. However, an alternative scenario implies that the pair may break this range to the upside and continue the correction to test 1.1752 from below.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has formed another consolidation channel. If later the pair breaks this range to the upside, the market may continue the correction towards 1.3465. After that, the instrument may resume falling inside the downtrend with the target at 1.3190.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating. If later the pair breaks this range to the upside, the market may grow towards 0.9960; if to the downside – continue the correction to reach 0.9800.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading to break the current consolidation channel upwards. Possibly, the price may continue trading to the upside to reach 110.45 and then start another decline towards 108.30. Later, the market may break this level and continue falling with the target at 106.25.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has reached the target of the first descending impulse and right now is trading close to the upside border of the range. According to the main scenario, the price may fall towards 0.7595, break it, and then continue trading to the downside with the target at 0.7520.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has reached the downside target of the correction. Today, the price may form a new descending structure towards the short-term target at 60.80.

XAUUSD, “Gold vs US Dollar”

Gold is trading to rebound from 1299.00. The target is at 1288.00. If later the pair breaks this level to the downside, the market may continue trading to the downside with the short-term target at 1270.00.

BRENT

Brent is moving up; it has broken 75.40 and may continue growing to reach 77.15. After that, the instrument may form a new descending structure with the target at 75.50 and then continue trading to the upside towards the short-term target at 80.00.