Forex Technical Analysis & Forecast 13.09.2021

EURUSD, “Euro vs US Dollar”

After completing the ascending correctional structure, EURUSD is trading downwards with the key downside target at 1.1790. Possibly, the pair may reach this level and then form a new consolidation range there. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 1.1850.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending wave with the short-term target at 1.3887, GBPUSD is falling towards 1.3809. After that, the instrument may start another growth to reach 1.3850 and then fall towards 1.3830, thus forming a new consolidation range around the latter level. If later the price breaks this range to the downside, the market may resume falling to reach 1.3785; if to the upside – form one more ascending structure with the target at 1.3900.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the ascending correctional structure at 73.14 Possibly, today the pair may resume trading within the downtrend towards 72.50 or even reach the target at 72.20.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending structure at 109.88, USDJPY is consolidating below this level. If later the price breaks this range to the downside, the market may resume falling to break 109.69 and then continue trading downwards to reach 109.44; if to the upside – continue the correction with the target at 110.17.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished another descending wave at 0.9150; right now, it is forming one more ascending wave towards 0.9195 and may later start a new correction to reach 0.9172. After that, the instrument may resume trading upwards with the target at 0.9220.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the correction at 0.7404, AUDUSD is forming the fifth descending structure towards 0.7332 and may later consolidate near these lows. If the price breaks this range to the upside, the market may start a new growth to complete the correction at 0.7404.

BRENT

Brent has completed the ascending wave at 73.30; right now, it is forming a new consolidation range around this level. If later the price breaks this range to the downside, the market may correct to reach 72.22; if to the upside – resume trading within the uptrend with the short-term target at 75.50.

XAUUSD, “Gold vs US Dollar”

After finishing the ascending wave at 1803.30 and rebounding from this level, Gold is still forming the fifth descending structure with the target at 1775.90. Later, the market may resume trading within the uptrend to return to 1803.30.

S&P 500

After breaking 4478.0 to the downside, the S&P index is expected to continue forming the third descending wave with the target at 4425.0. Today, the asset may fall to reach 4440.2 and then correct to test 4478.0 from below and then resume trading downwards to reach the above-mentioned target