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Forex Technical Analysis & Forecast for September 2022

EURUSD, “Euro vs US Dollar”

As we can see in the daily chart, after completing the descending wave at 1.1200, forming a new consolidation range around this level, and breaking it downwards to reach the short-term target at 0.9955, EURUSD has returned to test 1.0080 from below. Possibly, the pair may continue trading within the downtrend to reach 0.9900, or even extend this structure down to 0.9700.

Forex Technical Analysis & Forecast for September 2022 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”

On the daily chart, after finishing the descending wave at 1.1930 and failing to rebound from it, GBPUSD continues trading downwards with the short-term target at 1.1580. Later, the market may correct up to 1.1900 and then start a new decline to reach 1.1500.

Forex Technical Analysis & Forecast for September 2022 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

On the daily chart, after completing the ascending wave at 136.48 and forming a new consolidation range there, USDJPY has broken it to the upside; right now, it is still growing with the short-term target at 141.13. Later, the market may correct down to 136.48 and then start another growth to reach 142.52.

Forex Technical Analysis & Forecast for September 2022 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

As we can see in the daily chart, after failing to fix above 99.00 and forming a new consolidation range, Brent has broken it to the downside and may continue falling towards 91.60. Later, the market may resume trading upwards with the target at 105.20, or even extend this structure up to 120.50.

Forex Technical Analysis & Forecast for September 2022 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

On the daily chart, after completing the descending wave 1725.00 and forming a new consolidation range there, Gold has broken it to the downside and may continue trading downwards to reach 1680.00. Later, the market may form one more ascending wave to return to 1725.00 and then start a new decline with the target at 1650.00. After that, the instrument may resume growing towards 1766.00.

Forex Technical Analysis & Forecast for September 2022 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

On the daily chart, after finishing the descending wave at 3975.0 and forming a new consolidation range above this level, the S&P index has broken it to the downside. Possibly, the asset may grow to test 3975.0 from below and then resume falling towards 3888.0, or even extend this structure to reach the short-term target at 3700.0.

Forex Technical Analysis & Forecast for September 2022 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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