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Forex Technical Analysis & Forecast 31.08.2021

EURUSD, “Euro vs US Dollar”

After forming a new consolidation range below 1.1805 and breaking it to the upside, EURUSD continues trading upwards. Possibly, today the pair may reach 1.1827 or even extend this structure up to 1.1837. Later, the market may form one more consolidation range. If the price breaks this range to the downside, the instrument may start a new correction with the target at 1.1750.

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 1.3733 and breaking 1.3760, GBPUSD is expected to expand the consolidation range up to 1.3802. After that, the instrument may start another decline to break 1.3733 and then continue trading downwards with the target at 1.3678.

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 formed a new consolidation range around 73.55. Today, the pair may fall to break 73.33 and then continue trading downwards with the short-term target at 72.93.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is still consolidating around 109.80. Possibly, today the pair may form a new descending structure to break 109.47 and then continue moving within the downtrend with the short-term target at 108.80.

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 finishing the ascending impulse at 0.9184, USDCHF is correcting towards 0.9135. After that, the instrument may form one more ascending structure to break 0.9200 and then continue trading upwards with the target at 0.9250.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is growing towards 0.7335 and may later start a new decline to reach 0.7218. After that, the instrument may grow towards 0.7280 and consolidate there. If the price breaks this range to the downside, the market may resume trading within the downtrend with the target at 0.7070.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

After rebounding from 72.00, Brent is growing towards 73.33. Later, the market may form a new descending structure to break 72.00 and then correct with the target at 70.25. After that, the instrument may start another growth to reach 75.55.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1812.66. Possibly, today the metal may correct to test 1802.40 from above and then resume trading upwards with the target at 1824.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is growing towards 4544.4 and may later start a new correction to reach 4510.5. After that, the instrument may form one more ascending structure towards 4555.5 and consolidate there. If the price breaks this range to the downside, the asset may start another correction with the target at 4435.0.

S&P500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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