Forex Technical Analysis & Forecast 07.09.2021
EURUSD, “Euro vs US Dollar”
After reaching the short-term downside at 1.1855 and finishing the correction towards 1.1884, EURUSD is expected to form a new descending structure with the first target at 1.1847. Later, the market may start another growth to reach 1.1870.
GBPUSD, “Great Britain Pound vs US Dollar”
After reaching the short-term downside target at 1.3817 and finishing the correction towards 1.3855, GBPUSD is falling with the first target at 1.3793. After that, the instrument may form one more ascending structure to reach 1.3840.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB has completed the correctional structure at 73.05; right now, it is falling towards 72.88. Later, the market may correct to reach 73.06. and then resume trading downwards with the short-term target at 72.50.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is expected to continue the correction to test 109.99 from below and may later form a new descending structure to break 109.63. Later, the market may continue falling with the short-term target at 109.25.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is growing to reach 0.9150. After that, the instrument may start a new decline towards 0.9133 and then resume trading upwards with the target at 0.9200.
AUDUSD, “Australian Dollar vs US Dollar”
After completing the correction at 0.7466, AUDUSD is forming a new descending structure to break 0.7430 and may later continue falling with the short-term target at 0.7400. After that, the instrument may correct to test 0.7430 from below and then start another decline with the first target at 0.7383.
BRENT
After finishing the ascending structure at 73.00 along with the correction towards 72.30, Brent is growing to break 73.00 and may later continue trading upwards with the target at 74.45. Later, the market may start another correction to return to 73.05 and then resume growing to reach 78.50.
XAUUSD, “Gold vs US Dollar”
After finishing the correctional structure at 1836.25, Gold is falling towards 1818.95 and may later start another correction to return to 1836.25. After that, the instrument may form a new descending structure to break 1818.00 and then continue trading downwards with the target at 1780.00.
S&P 500
After completing the ascending structure at 4550.1, the S&P index is moving downwards to reach 4538.0 and may later start another growth towards 4555.5. After that, the instrument may form the first descending wave with the target at 4500.0.
