Forex Technical Analysis & Forecast 01.09.2020
EURUSD, “Euro vs US Dollar”
The currency pair has completed the structure of growth to 1.1999. At the moment, the market is trading in a narrow consolidation range at the highs. The price may spurt to 1.2020. At this point, we expect the current wave of growth to end. The next move will be a decline to 1.1850. The goal is local.
GBPUSD, “Great Britain Pound vs US Dollar”
The pair is trading in a structure of growth to 1.3431. After this level is reached, the pair may correct to 1.3350, testing it from above. Next, the price may leap up to 1.3440. Then a declining wave may start, aiming at 1.3200. The goal is local.
USDRUB, “US Dollar vs Russian Ruble”
The currency pair keeps developing a wave of decline. It is aiming at the next level of 73.20. Upon reaching this level, the pair may correct to 74.50, and then fall again to 72.50.
USDJPY, “US Dollar vs Japanese Yen”
The pair keeps developing a wave of decline to 105.35. Upon breaking this level away, it may fall further to 104.70. The goal is local. After reaching this level, the price may correct to 105.35, testing it from below. Then the falling will continue to 103.76.
USDCHF, “US Dollar vs Swiss Franc”
The pair performed an impulse of growth to 0.9044 and corrected to 0.9015. Currently the market is forming a consolidation range under this level. Upon escaping it upwards, the pair may grow to 0.9060. If it escapes it downwards, the price may renew the level of 0.9000. Then a wave of growth to 0.9111 may begin. The goal is first.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair is forming a consolidation range around 0.7366. Today, the range may extend to 0.7417. Then the price may decline to 0.7310. Escaping the range downwards, a pathway to 0.7200 will open. The goal is first.
BRENT
Oil keeps developing a consolidation range around 46.00. Today, we expect it to grow to 46.55. Upon breaking this level upwards, a pathway to 47.60 will open. The goal is local.
XAUUSD, “Gold vs US Dollar”
Gold has broken 1977.17 upwards and suggests growing to 1994.50. Today, the price may decline to 1977.17, testing it from above. Then it may grow to 1994.50, heading for 2002.20. The goal is local.
BTCUSD, “Bitcoin vs US Dollar”
The Bitcoin has corrected to 11500 and keeps developing a wave of growth to 12000. Upon reaching this level, the cryptocurrency may correct to 11400. The goal is local.
S&P 500
The stock index has corrected to 3500.0. Today, the growing market is aiming at 3545.3. Upon reaching this level, the index may decline to 3470.0 and then develop another wave of growth to 3590.0.
