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Forex Technical Analysis & Forecast 08.09.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still trading upwards and consolidating above 1.2070. If later the instrument breaks this consolidation range to the upside, the market may grow towards 1.2121; if to the downside – fall with the target at 1.2020.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still moving upwards; it has extended the wave towards 13130. We think, today the price may consolidate and form a reversal pattern. The market is expected to start a new descending correction with the target is at 1.3024.

 

USD CHF, “US Dollar vs Swiss Franc”

Being under pressure, the USD/CHF pair is moving downwards. The downside target is at 0.9404. Later, in our opinion, the market may grow towards 0.9550.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is still falling. The target of the fifth wave is at 106.50. We think, today the price may reach 107.00. After that, the instrument may be corrected towards 108.70 and continue falling inside the downtrend to reach the above-mentioned target.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has broken its consolidation range upwards; it has extended the fifth wave and reached the target. Possibly, today the price may start another correction to reach 0.7984.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has reached the target of the third descending wave. We think, today the price may form another consolidation range near the lows. Possibly, the instrument may fall towards 56.50 and then grow to test 58.60 from below. Later, in our opinion, the market may continue falling inside the downtrend.

 

XAU USD, “Gold vs US Dollar”

Gold has broken its consolidation range upwards and reached 1357. Possibly, today the price may be corrected towards 1329. After that, the instrument may form another ascending structure to reach 1381. Later, in our opinion, the market may be corrected towards 1258.

 

BRENT

Being under pressure, Brent is still growing. Possibly, the price may reach 55.15 and complete the third ascending wave. After that, the instrument may start another correction towards 51.00 and then resume growing with the target at 57.00.

 

RoboForex Analytical Department

 



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