Forex Technical Analysis & Forecast 31.08.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After forming a new consolidation range below 1.1805 and breaking it to the upside, EURUSD continues trading upwards. Possibly, today the pair may reach 1.1827 or even extend this structure up to 1.1837. Later, the market may form one more consolidation range. If the price breaks this range to the downside, the instrument may start a new correction with the target at 1.1750.

GBPUSD, “Great Britain Pound vs US Dollar”

After rebounding from 1.3733 and breaking 1.3760, GBPUSD is expected to expand the consolidation range up to 1.3802. After that, the instrument may start another decline to break 1.3733 and then continue trading downwards with the target at 1.3678.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has formed a new consolidation range around 73.55. Today, the pair may fall to break 73.33 and then continue trading downwards with the short-term target at 72.93.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.80. Possibly, today the pair may form a new descending structure to break 109.47 and then continue moving within the downtrend with the short-term target at 108.80.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the ascending impulse at 0.9184, USDCHF is correcting towards 0.9135. After that, the instrument may form one more ascending structure to break 0.9200 and then continue trading upwards with the target at 0.9250.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing towards 0.7335 and may later start a new decline to reach 0.7218. After that, the instrument may grow towards 0.7280 and consolidate there. If the price breaks this range to the downside, the market may resume trading within the downtrend with the target at 0.7070.

BRENT

After rebounding from 72.00, Brent is growing towards 73.33. Later, the market may form a new descending structure to break 72.00 and then correct with the target at 70.25. After that, the instrument may start another growth to reach 75.55.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1812.66. Possibly, today the metal may correct to test 1802.40 from above and then resume trading upwards with the target at 1824.00.

S&P 500

The S&P index is growing towards 4544.4 and may later start a new correction to reach 4510.5. After that, the instrument may form one more ascending structure towards 4555.5 and consolidate there. If the price breaks this range to the downside, the asset may start another correction with the target at 4435.0.

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.