Forex Technical Analysis & Forecast 01.09.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1844 and then finishing the descending impulse at 1.1796, EURUSD is forming a new consolidation range above the latter level. If later the price breaks this range to the upside, the market may correct upwards to reach 1.1818; if to the downside – start a new decline with the short-term target at 1.1770.

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the ascending wave at 1.3802 along with descending impulse towards 1.3740, GBPUSD is consolidating around the latter level. Possibly, the pair may correct to reach 1.3773 and then start another decline with the short-term target at 1.3707. In fact, the asset is expected to form the first descending wave with the target at 1.3678.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB continues falling. Today, the pair may reach 72.93 and then start another correction to test 73.55 from below. Later, the market may resume trading downwards with the target at 72.65.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.80. Possibly, today the pair may expand the range up to 110.25 and then form a new descending structure to reach the downside border at 109.29.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming another ascending impulse towards 0.9199. After that, the instrument may break this level and then continue trading upwards with the short-term target at 0.9247.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has completed the ascending wave at 0.7335. Possibly, today the pair may resume trading within the downtrend with the first target at 0.7284.

BRENT

Brent is still consolidating around 72.00. Possibly, the asset may expand this range up to 73.33 and then start a new correction with the target at 70.25. After that, the instrument may form one more ascending structure to reach 75.30.

GOLD

Gold is consolidating around 1812.66. Possibly, today the metal may start another growth towards 1824.00 and then resume trading downwards with the target at 1802.40.

S&P 500

After finishing the correction at 4515.8, the S&P index is still growing towards 4555.5. After that, the instrument may form a new descending structure with the target at 4510.0.

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.