Technical Analysis & Forecast 07.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has performed a declining movement to 1.0701. Today the market is forming a consolidation range above this level. With an escape from the range upwards, a link of growth to 1.0755 (with a test from below) is not excluded, followed by a decline to 1.0630, from where the trend could continue to 1.0566.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has broken the 1.2522 level downwards and continues a declining movement to 1.2459. After it reaches this level, a correction to 1.2585 (with a test from below) is expected, followed by a decline to 1.2424. This is a local target.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed a correction movement to 147.00. Today the rise is expected to continue to 147.87. And if this level also breaks upwards, the trend could continue to 148.79. This is a local target.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed a wave of growth to 0.8942. A consolidation range is forming under this level today. Escaping the range upwards, the price could open the potential for a rise to 0.8989, from where the price could continue to 0.9000. With an escape downwards, a link of correction to 0.8868 is not excluded, followed by a rise to 0.8989.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a consolidation range around 0.6380. With an escape from the range upwards, a link of correction to 0.6425 is not excluded. With an escape downwards, the wave could continue to 0.6330, from where the trend might extend to 0.6275.

BRENT

Brent continues developing a wave of growth to 90.96. After the quotes reach this level, a link of correction to 87.70 is not excluded. After the correction is over, the wave of growth could continue to 93.18, from where the trend might extend to 93.93. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold has formed a consolidation range around 1927.95, making a declining movement to 1915.30 after a downward escape from the range. Today the market is forming a new consolidation area above this level. With an escape upwards, a link of correction to 1927.00 (with a test fro below) is not excluded. With an escape downwards, the potential for a link of decline to 1909.70 might open, from where the trend could continue to 1903.33. This is a local target.

S&P 500

The stock index has completed a wave of decline to 4444.4. A consolidation range is forming above this level today. An escape from this range upwards with a correction to 4485.0 is not excluded (with a test from below), followed by a decline to 4430.0. An escape downwards could open the potential for a wave of decline to 4430.0, from where the trend could continue to 4325.0. This is a local target.