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Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

After breaking 1.1028 to the upside, EURUSD continues moving upwards to reach 1.1100. Possibly, the pair may reach it and then start a new correction to break 1.1066. Later, the market may continue trading inside the downtrend with the target at 1.1028.

GBP/USD, “Great Britain Pound vs US Dollar”

After breaking 1.2282 to the upside and reaching 1.2343, GBPUSD is expected to correct and return to 1.2282. After that, the instrument may form one more ascending structure with the target at 1.2372.

USD/RUB, “US Dollar vs Russian Ruble”

USD/RUB is still falling towards 70.00. After reaching this level, the instrument may grow to test 70.50 from below and then form a new descending structure with the target at 69.44.

USD/JPY, “US Dollar vs Japanese Yen”

After breaking 107.42 to the downside, USDJPY is expected to continue falling and reach 106.96. After that, the instrument may correct towards 107.30 and then resume trading downwards with the target at 106.60.

USD/CHF, “US Dollar vs Swiss Franc”

After breaking 0.9666 downwards and reaching 0.9636, USDCHF is expected to consolidate near the lows. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 0.9600; if to the upside – start a new correction towards 0.9666.

AUD/USD, “Australian Dollar vs US Dollar”

After breaking 0.6629 to the upside, AUDUSD is expected to continue growing towards 0.6675. Later, the market may fall to return to 0.6629 and then form one more ascending structure with the target at 0.6696.

BRENT

Brent is consolidating around 35.50 without any particular direction. If later the price breaks this range to the upside, the market may resume trading upwards with the target at 39.00; if to the downside – start a new correction towards 30.50.

XAU/USD, “Gold vs US Dollar”

Gold is forming one more ascending structure to break 1730.00. After that, the instrument may continue trading upwards with the short-term target at 1750.10.

BTC/USD, “Bitcoin vs US Dollar”

BTC/USD continues forming the ascending wave towards 9660.00. Possibly, today the pair may reach it and then start another correction with the target at 9200.00.

SP 500

The Index is consolidating around 3040.5. Today, the asset may fall towards 3008.0 and then grow to reach 3040.5. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 2944.4; if to the upside – start a new growth towards 3160.5.

Author

RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

GBP/USD declines to near 1.3500 as US-Iran tensions rise

The GBP/USD pair declines to near 1.3500 during the early European trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar against the British Pound. All eyes will be on the US August jobs report later on Friday.

EUR/USD falls to two-week low below 1.1600 on broad USD strength

EUR/USD remains under bearish pressure after closing in negative territory on Tuesday and trades at its lowest level in two weeks below 1.1600 on Wednesday. As tensions in the Middle East escalate further, the US Dollar gathers strength on risk-aversion and hawkish Fed repricing, forcing the pair to stay on the back foot. Later in the day, private sector employment data from the US will be watched closely by market participants.

Gold recovers above $4,300; upside seems capped as Fed bets support USD

Gold recovers early lost ground to a four-week low, and trades above $4,320 heading into the European session. A modest US Dollar pullback is seen as a key factor supporting the commodity, though any meaningful upside seems elusive amid hawkish US Federal Reserve expectations. The escalating Middle East conflict lifted crude oil prices to a fresh high since July 24, stoking inflation fears and reaffirming bets for a Fed rate hike in September.

WTI advances to mid-$90.00s, fresh high since July 24 amid escalating US-Iran tensions

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – scales higher for the third straight day – also marking the fifth day of a positive move in the previous six – and climbs to a fresh high since July 24 during the Asian session on Wednesday.

ADP Employment Report is expected to show a moderate increase in private payrolls in August

The Automatic Data Processing Research Institute will release its monthly report on private-sector job creation for August next Wednesday. The ADP Employment Change report is expected to show that the United States private sector added 47K new positions this month, little changed from the 44K new jobs reported in July.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.