Forex Technical Analysis & Forecast 29.08.2022

EURUSD, “Euro vs US Dollar”

After completing the correction at 1.0045, EURUSD is falling; it has already broken 0.9950 and may continue moving towards the target at 0.9800. Later, the market may correct up to 0.9900 and then start another decline to reach 0.9730.

GBPUSD, “Great Britain Pound vs US Dollar”

Having finished the correction at 1.1888, GBPUSD is trading downwards to reach 1.1600. After that, the instrument may correct up to 1.1700 and then resume falling with the target at 1.1550.

USDJPY, “US Dollar vs Japanese Yen”

After completing the correction at 136.20, USDJPY is trading upwards to reach 138.96. Later, the market may correct down to 137.60 and then form one more ascending structure with the target at 139.39.

USDCHF, “US Dollar vs Swiss Franc”

Having finished the correction at 0.9580, USDCHF is growing towards 0.9712. After that, the instrument may correct down to 0.9666 and then resume trading upwards with the target at 0.9755.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correction at 0.7007, AUDUSD is falling towards 0.6811. Later, the market may start another correction with the target at 0.6915.

BRENT

Having finished the correction at 98.06., Brent is trading upwards to reach 103.23. After that, the instrument may correct down to 100.66 and then start a new growth with the target at 105.15.

XAUUSD, “Gold vs US Dollar”

After completing the correctional wave at 1756.00, Gold is falling towards 1717.00. Later, the market may correct up to 1736.50 and then form a new descending structure with the target at 1707.70.

S&P 500

Having finished the correctional structure at 4215.0, the S&P index is falling towards 4000.0. After that, the instrument may correct up to 4110.0 and then start another decline with the target at 3930.0.