Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is forming a new consolidation range around 1.0202. According to the main scenario, the pair may break the range to the downside and start another decline to reach 1.0144. If later the price breaks this level as well, the market may continue moving within the downtrend with the target at 1.0008.

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

GBP/USD is still consolidating around 1.2000. Possibly, the pair may expand the range up to 1.2080 and then fall to break 1.1890. After that, the instrument may continue trading downwards with the target at 1.1692.

USD/JPY, “US Dollar vs Japanese Yen”

Having broken 136.58, USDJPY continues falling towards 135.21. Later, the market may correct to test 136.60 from below and then resume falling with the target at 133.86.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is still correcting. Today, the pair may fall towards 0.9588 and then resume trading upwards with the target at 0.9735, or even extend this structure up to 0.9927.

AUD/USD, “Australian Dollar vs US Dollar”

AUD/USD is still consolidating around 0.6888. Possibly, today the pair may grow towards 0.6929 and then resume falling with the target at 0.6870, or even extend this structure down to 0.6822.

Brent

Brent is still correcting. Today, the asset may form a new descending structure towards 101.00 and then start another growth with the first target at 105.85, or even extend this structure up to 108.50.

XAU/USD, “Gold vs US Dollar”

Gold has reached the short-term upside target at 1738.60. Possibly, today the metal may start another correction to reach 1716.00, and then form one more ascending structure with the first target at 1750.56.

S&P 500

The S&P index has finished the ascending structure at 4012.5; right now, it is consolidating this around 3950.0. If later the price breaks the range to the upside, the market may resume growing with the target at 4100.0, at least; if to the downside – start a new correction towards 3868.7, and then form one more ascending structure to reach the above-mentioned target.

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.

AUD/USD holds steady near 0.7200 amid escalating US-Iran tensions

AUD/USD consolidates just below its highest level since mid-May, touched on Friday, and hovers around 0.7200 at the start of a new week amid mixed cues. Hawkish RBA expectations continue to act as a tailwind for the Aussie. Meanwhile, the upbeat US NFP report lifted Fed rate hike bets, which, along with escalating US-Iran tensions, underpins the safe-haven US Dollar and caps the currency pair.

USD/JPY slides to test 154.00 on aggressive hawkish BoJ repricing

USD/JPY accelerates its decline and tests 154.00 in the European session on Monday as an aggressively hawkish BoJ repricing continues to drive the Japanese Yen higher. Meanwhile, the US Dollar faces headwinds from US debt worries and uncertainty about the Fed's policy outlook ahead of Friday's US CPI data release.

Gold recovers intraday losses to sub-$4,400 as USD slumps despite Fed rate hike bets

Gold shows some resilience below the $4,400 mark, and recovers intraday losses during the first half of the European session. Any meaningful upside, however, seems limited as traders might opt to wait on the sidelines ahead of the latest US inflation figures, due later this week.

Bittensor: TAO eyes $300 amid launch on Raydium, parody meme coin, ChatGPT-6 Astra release

Bittensor is trading in the green on Monday, continuing a steady upward trend over the last five days, with a 25% gain. Social chatter surrounding Bittensor is increasing amid a similarly named meme coin launched on Solana and the release of ChatGPT-6 Astra. The technical outlook for TAO is bullish as momentum strengthens and buyers target the $300 breakout.

Strong US jobs, Middle East tensions and key inflation data ahead

Good morning all, hope you enjoyed your weekend. Markets are starting the week after Friday’s stronger-than-expected US jobs report, which increased expectations that the Fed could raise rates at its September meeting. However, US markets are closed today for the Labor Day holiday, so liquidity should be lower and we may see slower price action.

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.