Forex technical analysis and forecast: Majors, equities and commodities

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

The currency pair has completed a correction to 1.0790. Today the market is developing a new structure of decline. A link of decline to 1.0690 is expected, followed by growth to 1.0740 and a decline to 1.0655, from where the wave might extend to 1.0610. The goal is local.

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

The currency pair has completed a wave of correction to 1.2193. Today the market continues developing a structure of decline to 1.2062. Then a link of growth to 1.2134 and a decline to 1.1990 should follow, from where the wave might continue to 1.1930. The goal is local.

USD/JPY, “US Dollar vs Japanese Yen”

The currency pair has completed a correction at 130.33. Today the market is forming a link of growth to 133.15. After this level is reached, a link of decline to 131.50 should follow.

USD/CHF, “US Dollar vs Swiss Franc”

The currency pair has completed a correction at 0.9166. Today a link of growth to 0.9260 is forming. Then a decline to 0.9211 and growth to 0.9305 should follow, from where the wave might extend to 0.9355.

AUD/USD, “Australian Dollar vs US Dollar”

The currency pair has completed a correction to 0.7010. Today a structure of decline to 0.6894 is forming. Then growth to 0.6952 and a decline to 0.6843 should follow, from where the wave might continue to 0.6781.

Brent

Brent has completed a link of growth to 85.22 and a link of decline to 83.30. Practically, a new consolidation range has appeared around 83.30. A new structure of growth to 87.62 is expected to develop. The goal is first.

XAU/USD, “Gold vs US Dollar”

Gold has completed a correction at 1889.99. Today the market is forming a link of decline to 1840.80. Then a link of growth to 1865.55 and a decline to 1819.70 should follow.

S&P 500

The stock index continues forming a structure of decline to 4050.0. After this level is reached, a new consolidation range should form around this level. With an escape downwards, the wave of decline should continue to 3923.5, from where it might continue to 3903.0. The goal is local.

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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 revisits 1.3530; Dollar pushes harder

GBP/USD adds to the weekly correction and recedes toward the 1.3530 zone on Friday. Indeed, Cable faces increasing selling pressure on the back of extra gains in the Greenback, particularly fuelled by Chair Warsh’s speech at the Jackson Hole Symposium and the US NFP Annual Revision (-79K).

EUR/USD breaches below 1.1600, multi-day lows

EUR/USD now accelerates its decline and retreats to seven-day troughs in the sub-1.1600 region at the end of the week. The pair’s pullback comes on the back of the strong rebound in the US Dollar after Chair Warsh delivered a hawkish message in Jackson Hole, while the US NFP Annual Revision came in at -79K.

Gold challenges its 200-day SMA near $4,530

Gold’s decline gathers fresh steam, hitting weekly lows while disputing its critical 200-day SMA near $4,530 per troy ounce. The yellow metal’s increasing weakness comes in response to the generalised upbeat tone in the US Dollar and the widespread rebound in US Treasury yields, as investors continue to reprice a Fed rate hike in September.

Crypto Today: Bitcoin, Ethereum, XRP rally loses steam despite steady ETF inflows

Bitcoin is back below $80,000 at the time of writing on Friday, after a second attempt at breaking resistance between $81,000 and $82,000. Meanwhile, Ethereum and Ripple mirror Bitcoin’s cooling trend, with ETH sliding to $2,500 and XRP falling toward $1.40 support.

Week ahead – RBNZ and BoC decide on rates ahead of all-important US NFP

Dollar rebounds ahead of ISM PMI and NFP data. RBNZ is expected to raise rates; focus to fall on forward guidance. BoC is set to remain on hold; will it raise rates in 2027?

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.