Forex Technical Analysis & Forecast 02.09.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair demonstrated growth to 1.2000 and started developing an impulse of decline. At the moment, the market has worked off the matrix to 1.1905. Around this level, a consolidation range is forming. If the price escapes it upwards, it may further correct to 1.1964. If it escapes the range downwards, it may further decline to 1.1850. The goal is local,estimated.

GBPUSD, “Great Britain Pound vs US Dollar”

The pair has shown a decline to 1.3364. The market is trading in a consolidation range above this level. If it escapes the range upwards, the pair may correct to 1.3440. If the range is broken downwards, the pair may decline to 1.3301. The goal is local, estimated.

USDRUB, “US Dollar vs Russian Ruble”

The pair goes on developing a wave of decline. We expect it to reach 73.10. After this goal is reached, we may expect a correction to 74.52, and then the price may return to 73.10. If this level is broken away, the pair may proceed to 72.50.

USDJPY, “US Dollar vs Japanese Yen”

The pair returned to the upper border of the consolidation area. If it breaks 106.20 upwards, the pair may grow to 106.60. If it declines to 105.70 and breaks it downwards, the quotations may go further down to 105.35.

USDCHF, “US Dollar vs Swiss Franc”

The pair has performed another impulse of growth to 0.9044 and broke it upwards. The market has formed a growth continuation pattern around 0.9053 and, breaking this level upwards, formed the first wave of growth to 0.9114. Today, the market is trading in a narrow consolidation range under this level. Then the price may correct to 0.9053, testing it from above, and then grow back to 0.9114. And if it is broken upwards, the pair may proceed to 0.9191. The goal is local, estimated.

AUDUSD, “Australian Dollar vs US Dollar”

The pair has performed the first structure of decline to 0.7336. The market is now trading in a consolidation range above this level. If the price escapes it upwards, it may correct to 0.7380. If it escapes the range downwards, the pair may decline to 0.7291. The goal is local, estimated.

BRENT

Oil declined to 45.75, which is regarded as a correction in the previous wave of growth. Then it may go on growing to 46.44. If this level is broken upwards, it may grow further to 47.30. The goal is local.

XAUUSD, “Gold vs US Dollar”

Gold performed the first structure of decline to 1963.00. The market is trading in a narrow consolidation range around this level. If the price escapes it upwards, it may correct to 1970.70. If it breaks the range downwards, the price may decline to 1950.25. The goal is local.

BTCUSD, “Bitcoin vs US Dollar”

The market bounced off 12000 downwards. Today, it may reach 11800, then correct to 11900, and then decline to 11750. If it is broken downwards, the price may proceed to 11600. The goal is local.

S&P 500

Today, the stock index opened with a gap upwards and broke away 3528.0. It may potentially grow to 3560.2. After this level is reached, a decline to 3528.0 may follow, testing it from above. Then another structure of growth to 3590.0 may be expected.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.