Forex Tech Analysis & Forecast 04.08.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

The currency pair is trading without any pronounced trend around 1.1872. We expect a decline to 1.1846, followed by growth to 1.1872 (a test from below). Then a decline to 1.1838 should follow. Here the correction will come to its end. Then another structure of growth to 1.1922 is likely to begin.

GBPUSD, “Great Britain Pound vs US Dollar”

The currency pair is trading without a trend around 1.3900. Today it might drop to 1.3870, then rise to 1.3900, and then escape the range and grow to 1.4000. With an escape downwards, a pathway to 1.3780 will open.

USDRUB, “US Dollar vs Russian Ruble”

The currency pair keeps developing a wave of decline. Today another structure of decline to 72.62 might form. Then a link of correction to 73.43 is not excluded. After the correction we expect a decline to 72.20.

USDJPY, “US Dollar vs Japanese Yen”

The currency pair has reached the local goal of the declining wave at 108.88. A link of growth to 109.33 is not excluded, followed by 108.11. The goal is first. After the level is reached, we expect a correction to 109.99.

USDCHF, “US Dollar vs Swiss Franc”

The currency pair keeps developing a consolidation range around 0.9050. Another structure of decline to 0.9005 is not excluded either, followed by growth to 0.9100.

AUDUSD, “Australian Dollar vs US Dollar”

The currency pair keeps developing a correction to 0.7440. Then we expect a decline to 0.7272. After a breakaway of this level downwards, we expect the trend to continue to 0.7200.

BRENT

Oil is forming a consolidation range around 73.00. Today we expect it to escape the range upwards. The goal is at 74.50. After this level is broken away upwards, a pathway to 77.33 will open. And this is just a half of the potential of this structure. The main goal of the growth is 83.00.

XAUUSD, “Gold vs US Dollar”

Gold is trading without a trend around 1812.12. A link of growth to 1815.55 is not excluded, followed by a decline to 1812.12. With an escape from the range upwards, a pathway to 1825.55 will open. And with an escape downwards — a pathway to 1790.00 will appear.

S&P 500

The stock index is trading in a narrow consolidation range around 4400.0. With an escape upwards, a wave of growth might rise to 4500.5. With an escape downwards, a link of correction to 4500.5 might form. The scenario with growth is more probable.

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.