Forex Technical Analysis & Forecast 23.09.2021

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1754 and then breaking 1.1717, EURUSD has completed the descending wave at 1.1683; right now, it is correcting upwards to reach 1.1710. Later, the market may start a new decline with the target at 1.1666.

GBPUSD, “Great Britain Pound vs US Dollar”

After rebounding from 1.3688 and finishing the descending wave at 1.3608, GBPUSD is correcting upwards to reach 1.3648. Later, the market may form a new descending structure with the target at 1.3590.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending structure at 72.67; right now, it is consolidating near the lows. If later the price breaks this range to the downside, the market may start a new decline towards 72.40; if to the upside – continue the correction with the target at 73.30.

USDJPY, “US Dollar vs Japanese Yen”

After completing the ascending wave at 109.74, USDJPY is forming a new consolidation range there. Possibly, the pair may expand the range up to 109.98 and then resume trading downwards with the target at 108.85.

USDCHF, “US Dollar vs Swiss Franc”

After finishing the correction at 0.9220 along with one more ascending structure towards 0.9272, USDCHF is consolidating below the fatter level. Later, the market may break the range to the upside and resume trading within the uptrend with the target at 0.9357.

AUDUSD, “Australian Dollar vs US Dollar”

After rebounding from 0.7295, AUDUSD has reached the downside border of its consolidation range at 0.7220. Today, the pair may correct towards 0.7250 and then resume trading within the downtrend with the target at 0.7190.

BRENT

After breaking 75.50, Brent is still growing to reach 77.00. After that, the instrument may start a new correction to return to 75.50 and then form one more ascending structure with the target at 77.70.

XAUUSD, “Gold vs US Dollar”

After rebounding from 1787.00 and then completing the descending structure at 1760.10, Gold is consolidating above the latter level. Possibly, today the metal may start a new correction towards 1745.00 and then resume trading upwards with the target at 1804.00.

S&P 500

The S&P index has completed the ascending structure at 4410.0; right now, it is consolidating below this level. Possibly, the asset may form a new descending structure towards 4373.0. Later, the market may start another growth to reach 4429.0 and then resume falling with the target at 4300.0.

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.