Technical Analysis & Forecast 08.09.2023

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.

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”

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.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

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 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.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

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

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.