Forex Technical Analysis & Forecast 25.08.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After finishing the ascending structure at 1.1762, EURUSD is falling towards 1.1726, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may resume falling with the target at 1.1600; if to the upside – form one more ascending structure to reach 1.1777 and then start a new decline.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is consolidating and forming a Triangle pattern. Today, the pair may expand the range up to 1.3755 and then fall to reach 1.3676. After that, the instrument may start another growth towards 1.3720. If later the price breaks this range to the downside, the market may resume falling with the target at 1.3598; if to the upside – form one more ascending structure towards 1.3800.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending structure at 73.73; right now, it is consolidating around this level. If the price breaks this range to the upside, the market may start a new correction with the target at 74.24; if to the downside – resume trading downwards to reach 73.00.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is forming a new consolidation range around 109.64 and may later resume falling with the short-term target at 109.16. After that, the instrument may grow to test 109.60 from below and then start a new descending structure towards 108.96.

USDCHF, “US Dollar vs Swiss Franc”

After forming another consolidation range around 0.9120, USDCHF has broken it to the upside and may later continue growing with the first target at 0.9166. After that, the instrument may correct towards 0.9133 and then start a new growth to reach 0.9222.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correction at 0.7250 and testing it from below, AUDUSD is expected to resume trading within the downtrend with the target at 0.7070.

BRENT

Brent has reached 71.10; right now, it is consolidating below this level. Possibly, the asset may correct towards 69.62 and then form one more ascending structure with the first target at 72.50.

XAUUSD, “Gold vs US Dollar”

Gold has tested 1791.70 from above. Today, the metal may grow to break 1809.00 and then continue trading upwards with the short-term target at 1819.00. Later, the market may start another correction towards 1750.00.

S&P 500

After finishing the ascending structure at 4494.4, the S&P index is consolidating below this level. Possibly, the asset may fall to reach 4463.3, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may form a new descending structure with the target at 4435.5; if to the upside – start another growth towards 4515.5.

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.