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Forex Technical Analysis & Forecast 08.09.2021

EURUSD, “Euro vs US Dollar”

After completing the descending structure at 1.1859 and forming a downside continuation pattern there, EURUSD has broken this level. Possibly, today the pair may fall towards 1.1834 and then resume growing to test 1.1859 from below. Later, the market may form a new descending structure with the short-term target at 1.1822 and then start another growth to return to 1.1859. After that, the instrument may resume trading downwards to reach 1.1800.

Forex Technical Analysis & Forecast 08.09.2021 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 breaking 1.3809 to the downside, GBPUSD is falling with the short-term target at 1.3762. After that, the instrument may return to 1.3809 to test it from below and then form a new descending structure with the first target at 1.3726.

Forex Technical Analysis & Forecast 08.09.2021 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 is still correcting. Today, the pair may grow to break 73.80 and then continue the correction towards 73.90. Later, the market may resume trading downwards with the target at 72.37.

Forex Technical Analysis & Forecast 08.09.2021 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 breaking 110.00 to the upside and returning to the downside border of the previous range, USDJPY is expected to continue the correction towards 110.43. After that, the instrument may rebound from this level and fall to return to 110.00. Later, the market may break this level and continue falling with the target at 109.60.

Forex Technical Analysis & Forecast 08.09.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has broken 0.9166; right now, it is still growing to reach the short-term target at 0.9200. After that, the instrument may start a new decline to test 0.9166 from above then resume trading upwards with the target at 0.9220.

Forex Technical Analysis & Forecast 08.09.2021 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 breaking 0.7404, AUDUSD is still falling to reach the short-term target at 0.7343. After that, the instrument may form one more ascending structure to return to 0.7404 and then start another decline with the target at 0.7332.

Forex Technical Analysis & Forecast 08.09.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 72.42; it has already expanded the range down to 71.20 and is currently growing to return to 72.42. Possibly, the asset may rebound from the latter level and start a new decline towards 70.87. Later, the market may form one more ascending structure with the target at 74.55.

Forex Technical Analysis & Forecast 08.09.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the descending structure at 1816.06, forming a narrow consolidation range around this level, and then breaking it to the downside, Gold has completed the descending wave at 1795.00. Today, the metal may consolidate near the lows. If later the price breaks this range to the upside, the market may correct to test 1814.00 from below; if to the downside – resume trading downwards with the target at 1780.00.

Forex Technical Analysis & Forecast 08.09.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After completing the descending structure at 4522.0, the S&P index is forming a narrow consolidation range around this level. If later the price breaks this range to the downside, the market may start another decline towards 4492.0; if to the upside – correct with the target at 4540.0.

Forex Technical Analysis & Forecast 08.09.2021 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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