Forex Technical Analysis & Forecast 01.09.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has reached the predicted downside target and right now is being corrected. We think, today the price may grow to reach 1.1948 and then start another decline with the target at 1.1741.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has completed the descending wave along with the correction. Possibly, today the price may fall to reach 1.2855. Later, in our opinion, the market may break this level and then continue moving downwards with the target at 1.2740.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected to the downside. Possibly, the price may fall to reach 0.9556 and then grow towards 0.9700. After that, the instrument may consolidate and continue growing inside the uptrend with the target at 0.9800.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is consolidating around 109.86. If later the instrument breaks this channel to the upside, the market may continue the current correction towards 111.40; if to the downside – continue falling inside the downtrend with the target at 107.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair has completed the descending impulse along with the correction. We think, today the price may break the low of this impulse. The local target is at 7755.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is still trading downwards; it has almost finished the continuation pattern at 58.76. Possibly, today the price may continue falling inside the downtrend towards the local target at 56.56.
XAU USD, “Gold vs US Dollar”
Gold has finished the first descending structure along with the correction. We think, today the price may fall towards 1300. Later, in our opinion, the market may break this level and then continue falling inside the downtrend with the target at 1285.
BRENT
Brent is trading upwards; it has broken 52.60. Possibly, the price may consolidate for a while, break this range to the upside, and reach the local target at 55.15.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.