Forex Technical Analysis & Forecast 05.09.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
05.09.2017EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still trading above 1.1888. Possibly, today the price may grow to reach 1.1923 and complete this ascending wave. After that the instrument may fall towards 1.1800, break it, and then form another downside continuation pattern with the target at 1.1668.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is trading above 1.2941. We think, today the price may fall to reach 1.2886 and then grow towards 1.3045 to complete the correction. Later, in our opinion, the market may continue falling inside the downtrend with the target at 1.2667.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating at the bottom of the range. If later the instrument breaks this consolidation range to the downside, the market may fall to reach 0.9514; if to the upside – continue growing towards 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
Being under pressure, the USD/JPY pair is trading downwards. Possibly, today the price may reach 108.42 and then form another correctional structure towards 109.22. After that, the instrument may continue falling inside the downtrend with the target at 107.14.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is still consolidating near the lows. Possibly, the price may extend this wave towards 0.8040 (an alternative scenario). According to the main scenario, the market may fall to reach 0.7870, break it, and then continue falling inside the downtrend with the target at 0.7755.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is being corrected. Possibly, the price may grow to reach 58.11 and then continue falling inside the downtrend to reach the local target at 56.76.
XAU USD, “Gold vs US Dollar”
Gold is consolidating near the highs; this consolidation range may be considered as a reversal pattern. Possibly, the price may be corrected towards 1317. Later, in our opinion, the market may form another consolidation range, break it upwards, and extend the wave towards 1350.
BRENT
Brent is consolidating around 52.55 and trying to break the downside border of the range. Possibly, the price may be corrected towards 51.40. If later the instrument breaks this range to the upside, the market may reach grow to the local target at 54.60.
RoboForex Analytical Department
Attention!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.