Forex Technical Analysis & Forecast 31.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has rebounded from 1.1934 and right now is still moving downwards. We think, today the price may reach 1.1805 and then start another correction to return to 1.1934. After that, the instrument may continue falling inside the downtrend to 1.1700.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is falling to reach 1.2833. Later, in our opinion, the market may be corrected towards 1.2920 and then continue moving downwards with the target at 1.2735.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has returned to 0.9640. Possibly, today the price may consolidate and test 0.9600. After that, the instrument may resume growing inside the uptrend with the target at 0.9700.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has returned to 110.47. Later, in our opinion, the market may form another descending structure 107.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is forming the first descending wave. We think, today the price may consolidate around 0.7899, break it, and then continue falling inside the downtrend towards 0.7790.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is trading to rebound from 58.76. Possibly, today the price may reach 58.11 and then return to 58.76. After that, the instrument may fall towards the local target at 56.56.
XAU USD, “Gold vs US Dollar”
Gold is forming the first descending structure; it has already reached the predicted target, but may yet extend this structure 1294.00. Later, in our opinion, the market may grow towards 1309.00 and then resume falling inside the downtrend with the target at 1258.60.
BRENT
Brent has broken its consolidation range to the downside. Possibly, the price may fall towards 50.37. After that, the instrument may grow to reach 52.70, break it, and then continue growing inside the uptrend with the target at 55.15.
RoboForex Analytical Department
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.