Forex Technical Analysis & Forecast 08.09.2020
EURUSD, “Euro vs US Dollar”
The pair keep developing a narrow consolidation range around 1.1820. We practically expect the development of another wave of decline to 1.1788. Upon reaching this level, the quotations may rise to 1.1820, testing it from below. Then we expect a decline to 1.1750 and even lower to 1.1710.
GBPUSD, “Great Britain Pound vs US Dollar”
The pair broke away 1.3188 downwards and keeps developing a wave of decline to 1.3082. Upon reaching this level, the price may form a consolidation range. If it escapes the range upwards, it may correct to 1.3188 and test it from below.
USDRUB, “US Dollar vs Russian Ruble”
The pair broke 75.60 upwards and reached the goal of another wave – 76.20. Today, we expect the price to decline to 75.60 and test it from above, next – grow to 76.35, after which a correction to 73.40 may start.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair keeps developing a consolidation area around 106.27. Today, it might decline to 106.06, then grow to 106.27. If the price escapes the range downwards, the price may go down to 105.65. If the range is broken upwards, the price may grow to 106.77 and even 106.93.
USDCHF, “US Dollar vs Swiss Franc”
The currency pair today is pushed up. We expect it to reach 0.9182. The goal is local. Then it still may correct to 0.9131, and the3n grow to 0.9160. The goal is first.
AUDUSD, “Australian Dollar vs US Dollar”
The currency pair keeps developing a consolidation area above 0.7267. The main probability of further development is a decline to 0.7243. Then the price may correct to 0.7267 and test it from below and then – decline to 0.7188.
BRENT
Oil is trading in a consolidation range around 42.50. The main scenario presumes an escape upwards to 43.40, followed by a decline to 42.50 and further growth to 44.50.
XAUUSD, “Gold vs US Dollar”
Gold keeps developing a consolidation range around 1927.83. Upon escaping it upwards, the pair may correct to 1962.00. If the price escapes the range downwards, the trend may continue to 1896.20 and deeper, to 1850.00.
BTCUSD, “Bitcoin vs US Dollar”
The market performed another wave of correction to 10400. Today, it may decline to 9960. Upon breaking this level downwards, the price may go deeper down to 9450 and even to 9333.
S&P 500
The stock index keeps developing a correction. Today, it may reach 3460.0, testing it from below and then develop a wave of declining down to 3333.0. The goal is first. Upon reaching this level, the pair may develop a new wave of growth to 3460.0.
