Technical Analysis & Forecast 08.09.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a declining movement to 1.0686. Today the market is correcting to 1.0728. When the correction is over, a drop to 1.0670 is expected. This is a local target. Next, a correction to 1.0900 might begin.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD has completed a wave to 1.2446. Today the market is forming a corrective link to 1.2513. After it is over, a link of decline to 1.2424 might follow. This is a local target. And next, a new wave of correction to 1. 2700 is expected.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has made a corrective movement to 146.62. The growth is expected to continue to 147.87 today. And if this level also breaks upwards, the trend could continue to 148.79. This is a local target. Next, a wave of decline to 145.00 might start.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is forming a consolidation range around 0.8917. Today the range is expected to extend to 0.8892. After the price reaches this level, a rise to 0.8998 might happen, followed by the beginning of a new ascending wave to 0.8800.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues developing a consolidation range around 0.6380 without any bright trend. The range is expected to extend to 0.6406 today. Next, a decline to 0.6333 might happen and a new wave of growth to 0.6600 might start.

BRENT

Brent quotes are forming a consolidation range around 89.80. Today the range could extend to 88.80, and next a rise to 90.90 might follow. And if this level also breaks upwards, the potential for a rise to 93.20 is could open. This is a local target.

XAUUSD, “Gold vs US Dollar”

Gold continues developing a consolidation range around 1921.50. Today the range could extend to 1927.95 (with a test from below). This link of growth is interpreted as a correction. After it is over, a link of decline to 1909.60 is expected, followed by growth to 1950.00.

S&P 500

The stock index. continues developing a correction to 4468.0. After this level is reached, a wave of decline to 4420.0 will begin. This is the first target. Next, a correction to 4490.0 might follow.