Forex Technical Analysis 02.09.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
02.09.2016
Analysis for September 2nd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has expanded its trading range upwards. We think, today the price may return to 1.1166 to test it from above. Later, in our opinion, the correction may continue towards 1.1250. After that, the instrument may continue falling to reach the local target at 1.1100.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair has formed another ascending structure. We think, today the price may form another consolidation channel. After that, the instrument may break the channel downwards and then continue falling inside the downtrend. The local target is at 1.2800.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has returned to 0.9784 to test it from above. We think, today the price may continue growing inside the uptrend to reach the local target at 0.9940.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has extended the correction. We think, today the price may for another consolidation channel at the current highs. After that, the instrument may break the channel downwards and continue falling inside the downtrend. The first downside target is at 101.80.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is moving in the center of the consolidation channel. Possibly, the price may grow towards 0.7600 (an alternative scenario). The main scenario suggests that the market may continue falling inside the downtrend to reach the local target at 0.7430.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing. We think, today the price may reach 65.99 continue falling inside the downtrend with the target at 63.20.
XAU USD, “Gold vs US Dollar”
Gold has completed the ascending impulse and right now is being corrected towards 1308. Thus, the market has formed another consolidation range. If the price breaks the top of the impulse, the instrument may continue growing to reach 1337. However, if the price breaks this range downwards, it may fall to reach 1300.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.