Forex Technical Analysis & Forecast 05.09.2019 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)
EURUSD, “Euro vs US Dollar”
After forming a continuation pattern around 1.0975 and breaking it to the upside, EURUSD has completed the ascending wave at 1.1030; right now, it is trading around this level. Possibly, the pair may consolidate close to these highs; there is Double Top pattern at 1.1037. According to the main scenario, the price is expected to fall and break 1.1021. The first target is at 1.1006.
GBPUSD, “Great Britain Pound vs US Dollar”
After forming a continuation pattern around 1.2084 and breaking it upwards, GBPUSD has completed another structure to reach 1.2222; right now, it is consolidating around this level. According to the main scenario, the price is expected to break 1.2215 to the downside and then continue trading downwards with the first target at 1.2173.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has completed the descending wave at 0.9799; right now, it is moving upwards with the target at 0.9864. Later, the market may form a new descending structure to reach 0.9830 and then resume trading upwards with the target at 0.9954.
USDJPY, “US Dollar vs Japanese Yen”
After forming a continuation pattern around 160.20 and breaking it upwards, USDJPY has reached 106.70; right now, it is consolidating around this level. Possibly, today the pair may fall to break 106.48 and then continue trading downwards with the first target at 106.20.
AUDUSD, “Australian Dollar vs US Dollar”
After completing an upside continuation pattern at 0.6755, AUDUSD has finished one more ascending structure to reach 0.6820 and may yet continue growing towards 0.6826. Today, the pair may form a new consolidation range at the highs. If later the price breaks this range to the downside at 0.6809, the instrument may form a new descending structure with the first target at 0.6794.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is trading to break 66.25. Possibly, today the pair may continue trading downwards with the first target at 65.45.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has completed the descending correction towards 1.3220. Today, the pair may consolidate near the lows. After breaking 1.3245 to the upside, the instrument may form one more ascending structure with the first target at 1.3326.
XAUUSD, “Gold vs US Dollar”
Gold is moving downwards to reach 1535.84. After that, the instrument may start a new growth towards 1545.33 and then continue trading downwards with the target at 1520.00.
BRENT
Brent continues moving upwards; right now, it is trading near the correctional channel’s upside border. Possibly, today the pair may consolidate around 61.00. If later the price breaks this range to the upside at 61.50, the instrument may resume trading inside the uptrend with the target at 62.20; if to the downside at 60.70 – then start another correction towards 60.00 and then form one more ascending structure to reach the above-mentioned target.
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is consolidating around 10550.00. Today, the pair may fall to reach 10300.00 and start a new growth to return o 10550.00. However, if later the price breaks 10300.00 to the downside, the instrument may continue trading inside the downtrend with the target at 9900.00.
