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Forex Technical Analysis & Forecast 30.08.2021

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1733 and then breaking 1.1777 to the upside, EURUSD has expanded the range up to 1.1807 to reach its short-term target. Later, the market may correct to test 1.1777 from above and then form one more ascending structure with the target at 1.1814. However, any rising movements should be considered as an alternative scenario to continue the correction. The instrument may start plummeting within the downtrend at any moment.

Forex Technical Analysis & Forecast 30.08.2021 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After rebounding from 1.3701 and expanding the range up to 1.3780, GBPUSD is forming a new consolidation range close to the latter level and forming another correctional structure. Possibly, the pair may start another decline reach 1.3743 and then form one more ascending structure with the target at 1.3797.

Forex Technical Analysis & Forecast 30.08.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has broken 73.88 to the downside. Today, the pair may continue trading downwards with the short-term target at 73.30. After that, the instrument may correct to test 73.88 from below and then start a new decline to reach 73.17.

Forex Technical Analysis & Forecast 30.08.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After rebounding from 110.25, USDJPY is trading downwards to reach 109.47. Possibly, the pair may break the latter level and then continue moving within the downtrend with the short-term target at 108.80.

Forex Technical Analysis & Forecast 30.08.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After rebounding from 0.9198 and then breaking 0.9155, USDCHF reached the short-term downside target at 0.9111. Today, the pair may grow towards 0.9150 and then resume falling to reach 0.9097. After that, the instrument may continue trading upwards to return to 0.9198.

Forex Technical Analysis & Forecast 30.08.2021 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After rebounding from 0.7222, AUDUSD has completed another ascending structure at 0.7314. Possibly, today the pair may fall to beak 0.7210 and then continue trading within the downtrend with the target at 0.7070.

Forex Technical Analysis & Forecast 30.08.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After finishing the ascending structure at 72.87, Brent is falling towards 71.30. If the price breaks the latter level to the downside, the market may correct with the target at 70.25.

Forex Technical Analysis & Forecast 30.08.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After completing the ascending structure and reaching the short-term target at 1822.00, Gold has finished the descending impulse towards 1813.33. Later, the market may start a new correction to reach 1818.70 and then resume falling with the target at 1800.90.

Forex Technical Analysis & Forecast 30.08.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After finishing another ascending structure at 4515.6, the S&P index is consolidating below this level. Possibly, the asset may form a new descending structure to reach 4497.3 and then resume trading upwards with the target at 4530.0.

Forex Technical Analysis & Forecast 30.08.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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