Forex Technical Analysis & Forecast 23.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

August 23, 2017

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is consolidating below 1.1769. We think, the price may break this range downwards and continue forming this descending wave. The target is at 1.1666. And this is just a half of the third wave with the target at 1.1515.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has reached another new low. Possibly, the price may continue falling inside the downtrend towards 1.2732. Later, in our opinion, the market may be corrected to reach 1.2900 and then continue moving downwards.

 

USD CHF, “US Dollar vs Swiss Franc”


Free Reports:

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter





Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Being under pressure, the USD/CHF pair is moving upwards; it is breaking the top of ascending impulse. Possibly, the price may reach 0.9708 and then form another consolidation range. After breaking this range to the upside, the instrument may continue growing inside the uptrend with the target at 0.9800.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still consolidating. Possibly, today the price may fall to reach the downside border of the range. Later, in our opinion, the market may break it and continue moving downwards with the target at 107.07.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is falling towards 0.7858. After that, the instrument may form another consolidation range, break it, and then continue falling with the target at 0.7766.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still consolidating at the lows. Possibly, today the price may grow towards 59.43. Later, in our opinion, the market may fall towards 59.15. If later the instrument breaks this channel to the downside, the downtrend may continue towards 55.50; if to the upside – resume growing with the target at 59.89.

 

XAU USD, “Gold vs US Dollar”

Gold is still consolidating around 1266.54. We think, today the price may fall to reach 1279.15 and then grow towards 1289.89. If later the instrument breaks this channel to the downside, the market may fall towards 1255.00; if to the upside – continue growing with the target at 1312.00.

 

BRENT

Brent is still consolidating at the lows. Possibly, today the price may continue growing towards 54.08 and then fall to reach 52.58. After that, the instrument may move upwards with the local target at 55.15.

 

RoboForex Analytical Department

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.

InvestMacro

InvestMacro is a finance website dedicated to helping investors make better informed decisions through educational content and products