Forex Technical Analysis & Forecast 10.09.2021

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1825. Possibly, the pair may expand the range up to 1.1844 and then fall to return to 1.1825. If later the price breaks this range to the downside, the market may resume falling to reach 1.1782; if to the upside – start a new growth to break 1.1884 and then continue trading within the uptrend with the target at 1.1922.

GBPUSD, “Great Britain Pound vs US Dollar”

After finishing the ascending wave at 1.3812 and forming a new consolidation range here, GBPUSD has broken it to the upside and may later continue growing towards 1.3900. Today, the pair may reach the short-term target at 1.3870. After that, the instrument may start another correction to test 1.3812 from above and then resume trading upwards to reach 1.3900.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has completed the descending structure at 72.95; right now, it is consolidating around this level. Possibly, the pair may break the range to the downside and resume trading downwards with the short-term target at 72.50.

USDJPY, “US Dollar vs Japanese Yen”

After finishing the descending structure at 109.62, USDJPY is correcting upwards. Possibly, today the pair may reach 109.90 and then form a new descending structure with the short-term target at 109.44.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has finished another descending wave at 0.9160; right now, it is consolidating above this level. Possibly, the pair may break the range to the upside and start a new growth towards 0.9195. After that, the instrument may resume trading downwards with the target at 0.9150.

AUDUSD, “Australian Dollar vs US Dollar”

After forming a new consolidation range around 0.7380, AUDUSD is expected to form one more ascending wave towards 0.7414. After that, the instrument may start another decline to test 0.7380 from above and then resume trading upwards with the target at 0.7420.

BRENT

Brent is still forming the consolidation range around 72.43. Today, the asset may fall towards 70.87 and then resume growing to reach the upside border at 73.43.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1795.00. Possibly, today the metal may expand the range up to 1803.30 and then fall to return to 1795.00. If later the price breaks this range to the upside, the market may resume trading within the uptrend with the target at 1833.80; if to the downside – continue the correction towards 1774.00 and then start a new growth to reach the above-mentioned target.

S&P 500

After reaching the first downside target at 4492.0 and completing the correction towards 4522.0, the S&P index is expected to form a new descending structure to break 4492.0. Later, the market may continue trading downwards towards 4425.0 or event reach the target at 4400.0.