Forex Technical Analysis & Forecast 07.09.2020

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair is forming a consolidation range around 1.1825. If the price escapes the range upwards, it may correct to 1.1909. If it breaks the range downwards, the quotations may fall to 1.1710. The goal is first.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair completed a wave of declining to 1.3200. At the moment, the market corrected to 1.3282. At these levels, a consolidation range may develop. If the price escapes the range upwards, it may correct to 1.3430, testing it from below. If the price breaks the range downwards, it may go on declining by the trend to 1.3085.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair is supported at 74.86 and is aiming to grow to 76.20. Then it is expected to decline to 75.60, and then grow to 76.36. At this level, the wave of growth is expected to be over, and a correction to 73.40 may follow.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair keeps forming a consolidation range around 106.25. If the price escapes the range downwards, it may decline to 105.65. If it breaks the range upwards, it may grow to 106.77 and even 106.93 later on.

USDCHF, “US Dollar vs Swiss Franc”

ВThe currency pair is supported at 0.9121. The range may extend to 0.9164 and even reach 0.9177. Then the price may correct to 0.9121, testing it from above, and then grow to 0.9260. The goal is first.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair performed a wave of declining to 0.7235 and corrected to 0.7290. At the moment, the market is trading in a narrow consolidation range under this level. Upon escaping it upwards, the price may go on correcting to 0.7357, and if it breaks the range downwards, a decline to 0.7186 might follow. The goal is first.

BRENT

Oil bounced off 44.67 downwards and showed a wave of declining to 42.10. Today, the market is trading in a consolidation range at these lows. Growth to 43.47 might follow. Upon breaking this level upwards, the price may grow to 44.67.

XAUUSD, “Gold vs US Dollar”

Gold keeps developing a consolidation range around 1933.77. If the price escapes the range upwards, it may correct to 1962.00. If it escapes the range downwards, the trend may continue to 1896.20 and even deeper, to 1850.00.

BTCUSD, “Bitcoin vs US Dollar”

The market performed another wave of decline to 9960 and corrected to 10200. Practically, a consolidation range is forming around this level. Then the price is expected to fall to 9585, grow to 9900, testing it from below, and then decline to 9330. The goal is first.

S&P 500

The stock index goes on developing a declining wave. The market reached the local goal at 3350.0 and corrected to 3450.1. Today, another declining wave to 3350.0 may develop, and upon breaking this level, the price may proceed to 3250.2. The goal is first.

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.